South Lake Tahoe, California Business Gets SBA-Guaranteed Funding from Tomatobank

An SBA loan from Tomatobank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a South Lake Tahoe, California business owner got a $750,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Tomatobank, out of City Of Industry, California. The loan was granted and they received $750,000 to help grow their South Lake Tahoe, California business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SOUTH LAKE TAHOE, CA 96150

SBA Loan Lender

TOMATOBANK
18605 E GALE AVE, STE 238
CITY OF INDUSTRY, CA 91748

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

2/23/2006

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

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 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Tomatobank and they will explain how you can get an SBA loan for your company.

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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