SBA Loans for Hotels and Motels

Looking for SBA loans for hotels and motels? An SBA loan may be just what you've been looking for. This $1,344,000 hotels and motels loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ojai, California was able to borrow $1,344,000 from Coast National Bank. The SBA made the loan possible by guaranteeing $999,936 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
OJAI, CA 93023

SBA Loan Lender

COAST NATIONAL BANK
500 MARSH ST
SAN LUIS OBISPO, CA 93401

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

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

$1,344,000

Loan Approval from the SBA

Of the total $1,344,000 loan amount, the SBA guaranteed $999,936.

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 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,344,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Obtaining Funding - Friends and Family

Small Business Banks in San Luis Obispo, California

SBA Lenders in California