Hotels and Motels Bank Loans

With these bank loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $417,400 was given to a California entrepreneur in 2003.

Getting a small business loan in Red Bluff, California was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Sba Lending, Inc., operating out of Roseville, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
RED BLUFF, CA 96080

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program is designed to ensure expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$417,400

Loan Approval from the SBA

Of the total $417,400 loan amount, the SBA guaranteed $313,050.

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 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wachovia Sba Lending, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wachovia Sba Lending, Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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