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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Motor Vehicle Towing Loan | ||||
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Banks in California
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Loans for Motor Vehicle TowingLooking for loans for motor vehicle towing? The SBA may be the answer. This $2,000,000 motor vehicle towing loan was issued by a California bank. This small firm knew how to go about getting a business bank loan. Based in Irvine, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Temecula Valley Bank, based in Temecula, California. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE TOWING SBA Loan Lender TEMECULA VALLEY BANK 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 4/13/2005 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. 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 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 12 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Temecula Valley Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Small Bank Loans in Temecula, California SBA Participating Banks in California
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