Commercial Loans for Hotels and Motels
With these commercial loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $10,000 was given to a California entrepreneur in 2006.
This business knew how to go about getting a business bank loan. Based in Fresno, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Wells Fargo Bank, based in San Jose, California.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
FRESNO, CA 93720
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
3/17/2006
Loan Approval Gross Amount
$10,000
Loan Approval from the SBA
Of the total $10,000 loan amount, the SBA guaranteed $5,000.
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 SBA loan documents indicated that the loan would help generate 1 new job and retain 6 existing jobs.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $10,000 loan. Remember, if it to be, it is up to me!
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:
Borrowing Money from Friends and Family
Where to Get an SBA Loan in San Jose, California
Where to Get an SBA Loan California