Getting an SBA Loan for Motor Vehicle Towing

Looking for commercial loans for motor vehicle towing? Try the SBA. This $1,104,000 motor vehicle towing loan was issued by a Texas bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Comerica Bank, out of Dallas, Texas. The loan was granted and they received $1,104,000 to help grow their Elk Grove, California business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
ELK GROVE, CA 95624

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

12/10/2002

Loan Approval Gross Amount

$1,104,000

Loan Approval from the SBA

Of the total $1,104,000 loan amount, the SBA guaranteed $828,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Comerica Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 Dallas, Texas

Texas SBA 7A Lenders