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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Santa Rosa, Business Loans > Sterling Savings Bank Santa Rosa Business Loans > Hotels And Motels Loan | ||||
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Who Lends Money to South Lake Tahoe Businesses
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California Business Loan Issued to Hotels And Motels CompanyCaliforniaBusiness loans are available to California business owners through the SBA. In this case, a California bank provides the loan. Getting a small business loan in South Lake Tahoe, California was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Sterling Savings Bank. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender STERLING SAVINGS BANK 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 Loan Approval Date 5/26/2000 Loan Approval Gross Amount $1,026,000 Loan Approval from the SBA Of the total $1,026,000 loan amount, the SBA guaranteed $749,995. 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 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Banks in Santa Rosa, California
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