Where to Get Capital for Hotels and Motels

Looking for small business loans for hotels and motels? The SBA may be the answer. This $685,000 hotels and motels loan was issued by a California bank.

This small firm knew how to go about getting a business bank loan. Based in Monterey, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Pacific Cap. Bank, based in Santa Barbara, California.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
MONTEREY, CA 93940

SBA Loan Lender

PACIFIC CAP. BANK
1021 ANACAPA ST
SANTA BARBARA, CA 93101

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small 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

8/18/2003

Loan Approval Gross Amount

$685,000

Loan Approval from the SBA

Of the total $685,000 loan amount, the SBA guaranteed $298,386.

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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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