Getting an SBA Loan for Motor Vehicle Towing

Looking for commercial loans for motor vehicle towing? Talk to a banker who works with the SBA. This $511,200 motor vehicle towing loan was issued by a California bank.

Getting a small business loan in San Diego, California was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Beach Business Bank, operating out of Manhattan Beach, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
SAN DIEGO, CA 92120

SBA Loan Lender

BEACH BUSINESS BANK
1230 ROSECRANS AVE, STE 100
MANHATTAN BEACH, CA 90266

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

9/19/2006

Loan Approval Gross Amount

$511,200

Loan Approval from the SBA

Of the total $511,200 loan amount, the SBA guaranteed $383,400.

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 7 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $511,200 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Financing Your Business

SBA 7A Banks for Manhattan Beach, California Loans

Getting an SBA Loan in California