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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Hotels And Motels Loan | ||||
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Small Business Banks for Tehachapi, California Small Businesses
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Where to Get Capital for Hotels and MotelsLooking for SBA loans for hotels and motels? Talk to a banker who works with the SBA. This $237,000 hotels and motels loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tehachapi, California was able to borrow $237,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $177,750 of this California small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender WELLS FARGO 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 NAICS Code 721110 - Hotels and Motels Loan Approval Date 5/26/2000 Loan Approval Gross Amount $237,000 Loan Approval from the SBA Of the total $237,000 loan amount, the SBA guaranteed $177,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wells Fargo Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 7A Lenders in San Jose, California
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