Internatl City Bank Provides SBA Loan to Buy Marriott Hotel Franchise

Borrowing money to purchase a Marriott Hotel franchise? Internatl City Bank has a history of making these loans and they are guaranteed by the SBA.

Marriott Hotel franchise loans are available to Pasadena, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Internatl City Bank, based in Long Beach, California, issued an SBA franchise loan for a Marriott Hotel franchise in 2007. We've got all the details on this California small business loan.

SBA Loan Borrower

MARRIOTT EXECUSTAY SOUTHERN CA
PASADENA, CA 91101

SBA Loan Lender

INTERNATL CITY BANK
249 E OCEAN BLVD
LONG BEACH, CA 90802

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

561499 - Business Support Services

Loan Approval Date

2/7/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Marriott Hotel franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

SBIR Funding

Banks in Long Beach, California

SBA California Lenders