Raising Money for Motor Vehicle Towing

Looking for business loans for motor vehicle towing? The SBA may be the answer. This $97,500 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 Lynnwood, Washington was able to borrow $97,500 from Frontier Bank. The SBA made the loan possible by guaranteeing $82,875 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
LYNNWOOD, WA 98036

SBA Loan Lender

FRONTIER BANK
5602 15TH AVE NW
SEATTLE, WA 98107

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

2/23/2004

Loan Approval Gross Amount

$97,500

Loan Approval from the SBA

Of the total $97,500 loan amount, the SBA guaranteed $82,875.

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 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Small Business Credit Cards

SBA Participating Banks in Seattle, Washington

Find an SBA Lender in Washington