Commercial Loans for Hotels and Motels

Looking for commercial loans for hotels and motels? An SBA loan may be just what you've been looking for. This $573,000 hotels and motels loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Fairfield, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bridge Bank, based in San Jose, California.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
FAIRFIELD, CA 94533

SBA Loan Lender

BRIDGE BANK
55 ALMADEN BLVD
SAN JOSE, CA 95113

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

4/23/2003

Loan Approval Gross Amount

$573,000

Loan Approval from the SBA

Of the total $573,000 loan amount, the SBA guaranteed $429,750.

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.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bridge Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Obtaining Funding - How to Borrow Money

Small Business Banks in San Jose, California

California SBA 7A Lenders