Comerica Bank SBA Loan to Hotels And Motels Company
Comerica Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Arizona entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakeside, Arizona was able to borrow $224,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $168,000 of this Arizona small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
LAKESIDE, AZ 85929
SBA Loan Lender
COMERICA BANK
1717 MAIN
DALLAS, TX 75201
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
8/7/2002
Loan Approval Gross Amount
$224,000
Loan Approval from the SBA
Of the total $224,000 loan amount, the SBA guaranteed $168,000.
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 documents indicated that the loan would help create 3 new jobs.
Next Steps for Getting an SBA Loan
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Comerica Bank and they will explain how you can get an SBA loan for your company.
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:
Getting a Small Business Loan
Best Dallas, Texas Banks for Small Business
Texas SBA 7A Lenders