Commercial Loans for Motor Vehicle Towing

Looking for commercial loans for motor vehicle towing? An SBA loan may be just what you've been looking for. This $71,300 motor vehicle towing loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Eveleth, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Associated Bank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
EVELETH, MN 55734

SBA Loan Lender

ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

10/17/2000

Loan Approval Gross Amount

$71,300

Loan Approval from the SBA

Of the total $71,300 loan amount, the SBA guaranteed $57,040.

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 application for the borrower indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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