Motor Vehicle Towing Commercial Loans

Looking for commercial loans for motor vehicle towing? The SBA may be the answer. This $103,000 motor vehicle towing loan was issued by an Arkansas bank.

This business knew how to go about getting a business bank loan. Based in Wynne, Arkansas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was 1st National Bank - Wynne, based in Wynne, Arkansas.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
WYNNE, AR 72396

SBA Loan Lender

1ST NATIONAL BANK - WYNNE
528 E MERRIMAN AVE
WYNNE, AR 72396

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

2/27/2006

Loan Approval Gross Amount

$103,000

Loan Approval from the SBA

Of the total $103,000 loan amount, the SBA guaranteed $87,550.

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 only one employee. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 $103,000 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:

Debt Financing

Small Business Banks in Wynne, Arkansas

Getting an SBA Loan in Arkansas