How to Get a Loan for Motor Vehicle Towing

Looking for SBA loans for motor vehicle towing? Talk to a banker who works with the SBA. This $1,800,000 motor vehicle towing loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Gardena, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Merchants Bank - California Natl, based in Carson, California.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
GARDENA, CA 90249

SBA Loan Lender

MERCHANTS BANK - CALIFORNIA NATL
1 CIVIC PLAZA DR
CARSON, CA 90745

This lender provides SBA small 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

7/6/2006

Loan Approval Gross Amount

$1,800,000

Loan Approval from the SBA

Of the total $1,800,000 loan amount, the SBA guaranteed $1,350,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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