Tow loop on the K frame?

FYI, most garden varity u-bolts are ungraded and soft. I would strongly reccommend that you get something of high grade and made for towing. If a hook snaps while the tow strap is under much tension, the strap and its end hook will whip out faster than you can see. I have seen them bust out tailights, dent trunk lids, and bust out rear windows...for real. If one hit you, it would crack your skull open...for real. So use something rated for towing or for logging tie downs, etc.

We buidl tow eyes for our rally cars for flat towing and pulls out of ditches in emergencies that are 5/8" diameter mild steel rod. I have been through the strength computations, and that is adequate to match good tow strap ratings.