Sterling Savings Bank SBA Loan to Hotels And Motels Company
Looking to get a California business loan? Here's one California business loan that was approved by the SBA.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mendocino, California was able to borrow $688,000 from Sterling Savings Bank. The SBA made the loan possible by guaranteeing $516,000 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
MENDOCINO, CA 95460
SBA Loan Lender
STERLING SAVINGS BANK
801 FOURTH ST
SANTA ROSA, CA 95404
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.
SIC Code
7011 - Hotels and Motels
Loan Approval Date
3/15/2000
Loan Approval Gross Amount
$688,000
Loan Approval from the SBA
Of the total $688,000 loan amount, the SBA guaranteed $516,000.
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 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs.
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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $688,000 loan. Remember, if it to be, it is up to me!
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
Find an SBA Lender in Santa Rosa, California
California SBA 7A Lenders