Business Loan from Meridian Bank Given to Hotels And Motels Company

Meridian Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Arizona entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sedona, Arizona was able to borrow $710,300 from Meridian Bank. The SBA made the loan possible by guaranteeing $532,725 of this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SEDONA, AZ 86351

SBA Loan Lender

MERIDIAN BANK
2001 W WICKENBURG WAY
WICKENBURG, AZ 85390

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.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

1/24/2000

Loan Approval Gross Amount

$710,300

Loan Approval from the SBA

Of the total $710,300 loan amount, the SBA guaranteed $532,725.

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 2 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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SBA Banks in Wickenburg, Arizona

SBA Participating Banks in Arizona