Commercial Loans for Hotels and Motels
Looking for commercial loans for hotels and motels? An SBA loan may be just what you've been looking for. This $1,325,000 hotels and motels loan was issued by a California bank.
This small business knew how to go about getting a business bank loan. Based in Muncie, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Temecula Valley Bank, based in Temecula, California.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
MUNCIE, IN 47304
SBA Loan Lender
TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590
This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7011 - Hotels and Motels
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
6/20/2003
Loan Approval Gross Amount
$1,325,000
Loan Approval from the SBA
Of the total $1,325,000 loan amount, the SBA guaranteed $993,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 9 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Temecula Valley Bank and they will explain how you can get an SBA loan for your company.
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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