Loans for Motor Vehicle Towing

With these loans for motor vehicle towing, the SBA guarantees the lender that the loan will be repaid. This motor vehicle towing loan for $50,000 was given to a Michigan entrepreneur in 2007.

Getting a small business loan in Hamtramck, Michigan was important for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Capital One Bank (usa), operating out of Glen Allen, Virginia. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
HAMTRAMCK, MI 48212

SBA Loan Lender

CAPITAL ONE BANK (USA)
4851 COX RD
GLEN ALLEN, VA 23060

This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

12/13/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, anyone can do it... so why not 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.

Related Links:

SBIR Funding

Best Glen Allen, Virginia Banks for Small Business

Virginia SBA Banks