Motor Vehicle Towing SBA Loans

Looking for SBA loans for motor vehicle towing? Try the SBA. This $675,000 motor vehicle towing loan was issued by an Ohio bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Firstmerit Bank, out of Akron, Ohio. The loan was granted and they received $675,000 to help grow their Medina, Ohio business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
MEDINA, OH 44256

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

9/27/2002

Loan Approval Gross Amount

$675,000

Loan Approval from the SBA

Of the total $675,000 loan amount, the SBA guaranteed $506,250.

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 19 employees. The SBA loan application for the borrower indicated that the loan would help retain 17 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Medina OH, you ought to talk with a local Medina SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Medina businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Firstmerit Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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