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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Hotels And Motels Loan | ||||
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I Need a Business Loan in Lancaster, California
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Getting an SBA Loan for Hotels and MotelsLooking for commercial loans for hotels and motels? The SBA may be the answer. This $1,300,000 hotels and motels loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lancaster, California was able to borrow $1,300,000 from Center Bank. The SBA made the loan possible by guaranteeing $975,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender CENTER BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 1/9/2003 Loan Approval Gross Amount $1,300,000 Loan Approval from the SBA Of the total $1,300,000 loan amount, the SBA guaranteed $975,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Center Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Obtaining Funding - Friends and Family Find an SBA Lender in Los Angeles, California
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