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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > La Mesa, Business Loans > Borrego Springs Bank La Mesa Business Loans > Hotels And Motels Loan | ||||
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Colorado Small Business Funding
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Commercial Loans for Hotels and MotelsWith these commercial loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,189,000 was given to a Colorado entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Frisco, Colorado was able to borrow $1,189,000 from Borrego Springs Bank. The SBA made the loan possible by guaranteeing $891,750 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BORREGO SPRINGS BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 9/25/2003 Loan Approval Gross Amount $1,189,000 Loan Approval from the SBA Of the total $1,189,000 loan amount, the SBA guaranteed $891,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: How Much Venture Capital Is There? Find an SBA Lender in La Mesa, California
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