How to Get a Loan for Motor Vehicle Towing

Looking for business loans for motor vehicle towing? The SBA may be the answer. This $212,245 motor vehicle towing loan was issued by an Oklahoma bank.

This small business knew how to go about getting a business bank loan. Based in Davis, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was 1st National Bank - Davis, based in Davis, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
DAVIS, OK 73030

SBA Loan Lender

1ST NATIONAL BANK - DAVIS
227 E MAIN ST
DAVIS, OK 73030

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

2/6/2003

Loan Approval Gross Amount

$212,245

Loan Approval from the SBA

Of the total $212,245 loan amount, the SBA guaranteed $159,184.

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 4 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $212,245 loan. Remember, anyone can do it... so why not 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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