Borrowing Money for Hotels and Motels

Looking for loans for hotels and motels? Talk to a banker who works with the SBA. This $1,330,000 hotels and motels loan was issued by a California bank.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Nara Bank, out of Los Angeles, California. The loan was granted and they received $1,330,000 to help grow their Seattle, Washington business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SEATTLE, WA 98121

SBA Loan Lender

NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010

This loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/18/2003

Loan Approval Gross Amount

$1,330,000

Loan Approval from the SBA

Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.

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 12 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Seattle or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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