Financing for Hotels and Motels
With these loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $1,300,000 was given to a California entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Woodland Hills, California was able to borrow $1,300,000 from Wilshire State Bank. The SBA made the loan possible by guaranteeing $975,000 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
WOODLAND HILLS, CA 91364
SBA Loan Lender
WILSHIRE STATE BANK
3200 WILSHIRE BLVD
LOS ANGELES, CA 90010
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.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
8/13/2003
Loan Approval Gross Amount
$1,300,000
Loan Approval from the SBA
Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.
Start the Process for Getting an SBA Loan Today!
If you are working on finding money to start a business in Woodland Hills CA, you ought to talk with a local Woodland Hills SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Woodland Hills businesses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,300,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
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SBA 7A Banks in Los Angeles, California
Getting an SBA Loan in California