Get an SBA Loan for Motor Vehicle Towing

Looking for small business loans for motor vehicle towing? The SBA may be the answer. This $35,000 motor vehicle towing loan was issued by a New York bank.

This company knew how to go about getting a business bank loan. Based in Brooklyn, New York, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Capital One, based in Melville, New York.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
BROOKLYN, NY 11223

SBA Loan Lender

CAPITAL ONE
275 BROADHOLLOW RD
MELVILLE, NY 11747

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

9/22/2005

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Capital One are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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Find an SBA Lender in Melville, New York

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