Borrowing Money for Hotels and Motels

Looking for loans for hotels and motels? Talk to a banker who works with the SBA. This $909,000 hotels and motels loan was issued by a California bank.

Getting a small business loan in Craig, Colorado was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Nara Bank, operating out of Los Angeles, California. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
Craig, CO 81625

SBA Loan Lender

NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/21/2006

Loan Approval Gross Amount

$909,000

Loan Approval from the SBA

Of the total $909,000 loan amount, the SBA guaranteed $681,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Getting a Small Business Loan

SBA Participating Banks in Los Angeles, California

Getting a Business Loan in California