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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Santa Cruz, Business Loans > Coast Comm. Bank A Division - Santa Cruz Business Loans > Hotels And Motels Loan | ||||
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California Bank SBA Loans
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Santa Cruz, California Bank Lends Money to Hotels And Motels Company in Turlock, CaliforniaA Santa Cruz, California small business loan can be yours. Learn how a company got a $1,535,000 business loan from this California bank. This loan to an entrepreneur is a good example of an SBA loan. Coast Comm. Bank A Division - made the loan and the SBA guaranteed a portion of the loan. Many other California entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender COAST COMM. BANK A DIVISION - As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. 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 6/12/2000 Loan Approval Gross Amount $1,535,000 Loan Approval from the SBA Of the total $1,535,000 loan amount, the SBA guaranteed $749,694. 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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Family and Friend Investors - Your First Financiers Where to Get an SBA Loan in Santa Cruz, California Getting a Business Loan in California
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