Comerica Bank SBA Loan to Hotels And Motels Company

Want a California business loan? Here's one California business loan that was approved by the SBA.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Comerica Bank, out of Dallas, Texas. The loan was granted and they received $763,800 to help grow their Montara, California business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
MONTARA, CA 94037

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

3/24/2000

Loan Approval Gross Amount

$763,800

Loan Approval from the SBA

Of the total $763,800 loan amount, the SBA guaranteed $572,850.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

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SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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