Business Loan from Heritage Bank Of Commerce Given to Motor Vehicle Towing Company

Heritage Bank Of Commerce has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Middletown, California, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Heritage Bank Of Commerce, based in San Jose, California.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
MIDDLETOWN, CA 95467

SBA Loan Lender

HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113

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

6/24/2002

Loan Approval Gross Amount

$486,000

Loan Approval from the SBA

Of the total $486,000 loan amount, the SBA guaranteed $364,500.

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 4 employees. The loan application indicated that the loan would help create 4 new jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $486,000 loan. Remember, feel the fear, and do it anyway.

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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