Financing for Motor Vehicle Towing
With these commercial loans for motor vehicle towing, the SBA guarantees the lender that the loan will be repaid. This motor vehicle towing loan for $721,000 was given to a California entrepreneur in 2000.
This business knew how to go about getting a business bank loan. Based in Ventura (corporate Name San Bu, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Montecito Bank & Trust, based in Santa Barbara, California.
SBA Loan Borrower
COMPANY TYPE: MOTOR VEHICLE TOWING
VENTURA (CORPORATE NAME SAN BU, CA 93003
SBA Loan Lender
MONTECITO BANK & TRUST
1106 COAST VILLAGE RD
SANTA BARBARA, CA 93108
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
488410 - Motor Vehicle Towing
Loan Approval Date
12/15/2000
Loan Approval Gross Amount
$721,000
Loan Approval from the SBA
Of the total $721,000 loan amount, the SBA guaranteed $540,750.
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 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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:
Business Incubators
SBA 7A Lenders in Santa Barbara, California
SBA California Banks