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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Culver City, Business Loans > Alliance Bank Culver City Business Loans > Hotels And Motels Loan | ||||
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California SBA Lenders
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Entrepreneur Works With Culver City, California Bank to Get an SBA LoanWant to talk with a Culver City, California bank about a small business loan? Here's one California business loan, issued by a Culver City bank, that was approved by the SBA. Applying for an SBA loan with Alliance Bank worked out well for our friends at one local firm in June Lake, California. The business was able to get an SBA loan for $880,000. Sweet! SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender ALLIANCE BANK This lender provides SBA 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 11/1/2004 Loan Approval Gross Amount $880,000 Loan Approval from the SBA Of the total $880,000 loan amount, the SBA guaranteed $660,000. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Alliance Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Banks in Culver City, California
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