Motor Vehicle Towing Commercial Loans

Looking for commercial loans for motor vehicle towing? Talk to a banker who works with the SBA. This $111,960 motor vehicle towing loan was issued by an Illinois bank.

This small business knew how to go about getting a business bank loan. Based in Mt. Sterling, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Farmers National Bank - Griggsville, based in Mount Sterling, Illinois.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
MT. STERLING, IL 62353

SBA Loan Lender

FARMERS NATIONAL BANK - GRIGGSVILLE
220 PITTSFIELD RD
MOUNT STERLING, IL 62353

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

9/20/2002

Loan Approval Gross Amount

$111,960

Loan Approval from the SBA

Of the total $111,960 loan amount, the SBA guaranteed $95,166.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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.

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