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 $250,000 was given to a New Jersey entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Long Branch, New Jersey was able to borrow $250,000 from Pnc Bank, National Association. The SBA made the loan possible by guaranteeing $125,000 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
LONG BRANCH, NJ 07740

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

2/7/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 generate 5 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

If you want money for new small business in Long Branch NJ, you ought to talk with a local Long Branch SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Long Branch businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Pnc Bank, National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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