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November 24, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Hotels And Motels Loan | ||||
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California Bank SBA Loans
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Center Bank SBA Loan to Hotels And Motels CompanyWant a California business loan? Here's one California business loan that was approved by the SBA. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Center Bank, out of Los Angeles, California. The loan was granted and they received $755,000 to help grow their Duarte, California business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender CENTER BANK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels Loan Approval Date 3/13/2000 Loan Approval Gross Amount $755,000 Loan Approval from the SBA Of the total $755,000 loan amount, the SBA guaranteed $566,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Los Angeles, California Banks for Small Business
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