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December 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Hotels And Motels Loan | ||||
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Small Business Loans from Temecula Valley Bank
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Temecula Valley Bank SBA Loan to Hotels And Motels CompanyAn SBA loan from Temecula Valley Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Perris, California business owner got a $430,000 loan. This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Temecula Valley Bank, out of Temecula, California. The loan was granted and they received $430,000 to help grow their Perris, California business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender TEMECULA VALLEY BANK 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. NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/19/2003 Loan Approval Gross Amount $430,000 Loan Approval from the SBA Of the total $430,000 loan amount, the SBA guaranteed $322,500. 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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $430,000 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: Dealing With Venture Capitalists Best Banks in Temecula, California
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