Business Loan from Western Commerce Bank Given to Hotels And Motels Company

Western Commerce Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Texas entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Seminole, Texas was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Western Commerce Bank, operating out of Carlsbad, New Mexico. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SEMINOLE, TX 79360

SBA Loan Lender

WESTERN COMMERCE BANK
127 S CANYON ST
CARLSBAD, NM 88220

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/8/2007

Loan Approval Gross Amount

$1,119,200

Loan Approval from the SBA

Of the total $1,119,200 loan amount, the SBA guaranteed $839,400.

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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Western Commerce 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:

Obtaining Funding From a Venture Capitalist

Small Bank Loans in Carlsbad, New Mexico

SBA Participating Banks in New Mexico