Bank Loans for Motor Vehicle Towing
With these bank loans for motor vehicle towing, the SBA guarantees the lender that the loan will be repaid. This motor vehicle towing loan for $218,000 was given to a New Jersey entrepreneur in 2007.
This small firm knew how to go about getting a business bank loan. Based in Englewood, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Valley National Bank, based in North Plainfield, New Jersey.
SBA Loan Borrower
COMPANY TYPE: MOTOR VEHICLE TOWING
ENGLEWOOD, NJ 07631
SBA Loan Lender
VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
488410 - Motor Vehicle Towing
Loan Approval Date
10/18/2007
Loan Approval Gross Amount
$218,000
Loan Approval from the SBA
Of the total $218,000 loan amount, the SBA guaranteed $163,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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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