Financing for Hotels and Motels
With these commercial loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $110,000 was given to a California entrepreneur in 2001.
Getting a small business loan in Redlands, California was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Citizens Business Bank, operating out of Burbank, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
REDLANDS, CA 92374
SBA Loan Lender
CITIZENS BUSINESS BANK
4100 W ALAMEDA AVE
BURBANK, CA 91505
The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to our country's hard-working small business owners.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
12/31/2001
Loan Approval Gross Amount
$110,000
Loan Approval from the SBA
Of the total $110,000 loan amount, the SBA guaranteed $93,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Business Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Business Bank 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.
Related Links:
Accountant's Role in Securing Financing
Where to Get an SBA Loan in Burbank, California
California SBA 7A Banks