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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Escondido, Business Loans > Pacific Western Bank Escondido Business Loans > Hotels And Motels Loan | ||||
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How to Get SBA Loans in Long Beach, California
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Financing for Hotels and MotelsWith these loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,220,000 was given to a California entrepreneur in 2004. This small firm knew how to go about getting a business bank loan. Based in Long Beach, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Pacific Western Bank, based in Escondido, California. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender PACIFIC WESTERN BANK 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 7/29/2004 Loan Approval Gross Amount $1,220,000 Loan Approval from the SBA Of the total $1,220,000 loan amount, the SBA guaranteed $915,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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 Pacific Western 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: Raising VC Money for Social Networking Companies SBA 7A Banks for Escondido, California Loans
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