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December 25, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Hotels And Motels Loan | ||||
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Small Business Banks in Texas
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How to Get a Loan for Hotels and MotelsLooking for commercial loans for hotels and motels? The SBA may be the answer. This $1,600,000 hotels and motels loan was issued by a California bank. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Temecula Valley Bank, out of Temecula, California. The loan was granted and they received $1,600,000 to help grow their Groves, Texas business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender TEMECULA VALLEY BANK This lender provides SBA guaranteed business 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 2/15/2007 Loan Approval Gross Amount $1,600,000 Loan Approval from the SBA Of the total $1,600,000 loan amount, the SBA guaranteed $1,200,000. 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 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Accountant's Role in Securing Financing Where to Get an SBA Loan in Temecula, California
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