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May 13, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > North Salem, Business Loans > North Salem State Bank North Salem Business Loans > Motor Vehicle Towing Loan | ||||
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Examples of Mooresville SBA Loans
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Financing for Motor Vehicle TowingLooking for loans for motor vehicle towing? Talk to a banker who works with the SBA. This $40,000 motor vehicle towing loan was issued by an Indiana bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mooresville, Indiana was able to borrow $40,000 from North Salem State Bank. The SBA made the loan possible by guaranteeing $34,000 of this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE TOWING SBA Loan Lender NORTH SALEM STATE BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 488410 - Motor Vehicle Towing Loan Approval Date 3/18/2004 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from North Salem State 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. Related Links: SBA 7A Banks for North Salem, Indiana Loans
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