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November 22, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Los Angeles, Business Loans > Wilshire State Bank Los Angeles Business Loans > Hotels And Motels Loan | ||||
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Raising Money in Everett, Washington With SBA Loans
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Hotels and Motels LoansLooking for loans for hotels and motels? An SBA loan may be just what you've been looking for. This $940,000 hotels and motels loan was issued by a California bank. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Wilshire State Bank, out of Los Angeles, California. The loan was granted and they received $940,000 to help grow their Everett, Washington business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender WILSHIRE STATE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 8/29/2002 Loan Approval Gross Amount $940,000 Loan Approval from the SBA Of the total $940,000 loan amount, the SBA guaranteed $705,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wilshire State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Banks in Los Angeles, California
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