Get an SBA Loan for Hotels and Motels

Looking for loans for hotels and motels? Try the SBA. This $108,000 hotels and motels loan was issued by a California bank.

This company knew how to go about getting a business bank loan. Based in Wheatland, Wyoming, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Borrego Springs Bank, based in La Mesa, California.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
WHEATLAND, WY 82201

SBA Loan Lender

BORREGO SPRINGS BANK
7777 ALVARADO RD, STE 114
LA MESA, CA 91941

This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

7/30/2003

Loan Approval Gross Amount

$108,000

Loan Approval from the SBA

Of the total $108,000 loan amount, the SBA guaranteed $91,800.

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 9 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Borrego Springs Bank 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.

Related Links:

Getting a Small Business Loan

Where to Get an SBA Loan in La Mesa, California

SBA California Banks