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Updated almost 5 years ago,
SBA loan for commercial prop. and equipment to start a business?
Hello everyone. I've been trolling this site for some time and I am in the planning stages to start a towing business in the greater Cleveland (Ohio) area. Here's what I'm looking at:
I found some commercial property for sale that more than meets the requirements for starting a licensed towing business in Ohio. The property is mixed-use that when rented should bring in around $2200-2500 dollars.
Is it possible to get a SBA loan to cover the cost of the property needed as well as purchase a flatbed tow truck?
If so, should I contact the owner or the realtor to get a purchase agreement that can be included in my business plan?
I'm sure I'm forgetting something but for now any help would be great.
Also, I am a 0% rated disabled vet if that helps and I am looking at around 200 to 225k to get started.