Financing for Motor Vehicle Towing

Looking for commercial loans for motor vehicle towing? Talk to a banker who works with the SBA. This $34,700 motor vehicle towing loan was issued by a Texas bank.

This small business knew how to go about getting a business bank loan. Based in San Antonio, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Security Service Fcu, based in San Antonio, Texas.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
SAN ANTONIO, TX 78253

SBA Loan Lender

SECURITY SERVICE FCU
16211 LA CANTERA PKWY
SAN ANTONIO, TX 78256

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

1/25/2006

Loan Approval Gross Amount

$34,700

Loan Approval from the SBA

Of the total $34,700 loan amount, the SBA guaranteed $17,350.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Security Service Fcu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Security Service Fcu made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Bank Credit Lines

SBA 7A Banks for San Antonio, Texas Loans

Texas SBA Banks