Where to Get Capital for Motor Vehicle Towing

With these small business loans for motor vehicle towing, the SBA guarantees the lender that the loan will be repaid. This motor vehicle towing loan for $20,500 was given to a Mississippi entrepreneur in 2006.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Trustmark National Bank, out of Jackson, Mississippi. The loan was granted and they received $20,500 to help grow their Jackson, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
JACKSON, MS 39209

SBA Loan Lender

TRUSTMARK NATIONAL BANK
248 E CAPITOL ST
JACKSON, MS 39201

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

8/16/2006

Loan Approval Gross Amount

$20,500

Loan Approval from the SBA

Of the total $20,500 loan amount, the SBA guaranteed $17,425.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Trustmark National 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.

Related Links:

Borrowing Money from Friends and Family

Best Jackson, Mississippi Banks for Small Business

Mississippi SBA 7A Lenders