Casino Hotels Loans

With these loans for casino hotels, the SBA guarantees the lender that the loan will be repaid. This casino hotels loan for $680,000 was given to a Colorado entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Limon, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Wilshire State Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: CASINO HOTELS
Limon, CO 80828

SBA Loan Lender

WILSHIRE STATE BANK
3200 WILSHIRE BLVD
LOS ANGELES, CA 90010

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721120 - Casino Hotels

Loan Approval Date

4/26/2007

Loan Approval Gross Amount

$680,000

Loan Approval from the SBA

Of the total $680,000 loan amount, the SBA guaranteed $510,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 24 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 Wilshire State 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:

Business Line of Credit

SBA 7A Banks for Los Angeles, California Loans

Where to Get an SBA Loan California