Borrowing Money for Hotels and Motels

Looking for bank loans for hotels and motels? Talk to a banker who works with the SBA. This $550,000 hotels and motels loan was issued by a California bank.

This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Wilshire State Bank, out of Los Angeles, California. The loan was granted and they received $550,000 to help grow their Everett, Washington business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
EVERETT, WA 98201

SBA Loan Lender

WILSHIRE STATE BANK
3200 WILSHIRE BLVD
LOS ANGELES, CA 90010

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/1/2000

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Everett WA, you ought to talk with a local Everett SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Everett businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Wilshire State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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California SBA Bank Lenders