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December 22, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Los Angeles, Business Loans > Mirae Bank Los Angeles Business Loans > Hotels And Motels Loan | ||||
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How to Get SBA Loans in Port Ludlow, Washington
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Hotels and Motels Small Business LoansLooking for small business loans for hotels and motels? The SBA may be the answer. This $2,000,000 hotels and motels loan was issued by a California bank. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Mirae Bank, out of Los Angeles, California. The loan was granted and they received $2,000,000 to help grow their Port Ludlow, Washington business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender MIRAE BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 5/17/2006 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. 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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Mirae Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Realistic Debt Financing Options SBA 7A Banks for Los Angeles, California Loans
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