Get an SBA Loan for Hotels and Motels

Looking for loans for hotels and motels? Try the SBA. This $670,000 hotels and motels loan was issued by an Arizona bank.

Getting a small business loan in Lakeside, Arizona was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Cobiz Bank, operating out of Phoenix, Arizona. Here are the details on this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
LAKESIDE, AZ 85929

SBA Loan Lender

COBIZ BANK
2700 N CENTRAL AVE, STE 110
PHOENIX, AZ 85004

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

6/3/2003

Loan Approval Gross Amount

$670,000

Loan Approval from the SBA

Of the total $670,000 loan amount, the SBA guaranteed $502,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 27 employees. The loan application indicated that the loan would help retain 27 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Lakeside AZ, you ought to talk with a local Lakeside SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lakeside businesses.

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:

Advice on Getting a Small Business Loan

Best Banks in Phoenix, Arizona

SBA Participating Banks in Arizona