Where to Get Capital for Motor Vehicle Towing

Looking for SBA loans for motor vehicle towing? Talk to a banker who works with the SBA. This $176,500 motor vehicle towing loan was issued by a Washington bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Everett, Washington was able to borrow $176,500 from First Heritage Bank. The SBA made the loan possible by guaranteeing $132,375 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
EVERETT, WA 98203

SBA Loan Lender

FIRST HERITAGE BANK
19500 HWY 2
MONROE, WA 98272

This debt financing was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA delivers a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

8/27/2003

Loan Approval Gross Amount

$176,500

Loan Approval from the SBA

Of the total $176,500 loan amount, the SBA guaranteed $132,375.

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 4 employees. The SBA loan documents did not indicate that the company promised to use the money 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Heritage Bank and they will explain how you can get an SBA loan for your company.

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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