Commercial Loans for Motor Vehicle Towing

Looking for commercial loans for motor vehicle towing? Try the SBA. This $20,000 motor vehicle towing loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Durham, North Carolina was able to borrow $20,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $17,000 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
DURHAM, NC 27703

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

10/27/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Durham NC, you ought to talk with a local Durham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Durham businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Innovative Bank 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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