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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Mount Airy, Business Loans > Surrey Bank & Trust Mount Airy Business Loans > General Long-Distance Freight Trucking Loan | ||||
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Requirements for Small Business Owners On Getting a Loan
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Business Loans for General Long-Distance Freight TruckingLooking for business loans for general long-distance freight trucking? The SBA may be the answer. This $23,000 general long-distance freight trucking loan was issued by a North Carolina bank. This business knew how to go about getting a business bank loan. Based in Ararat, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Surrey Bank & Trust, based in Mount Airy, North Carolina. SBA Loan Borrower COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender SURREY BANK & TRUST This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484121 - General Long-Distance Freight Trucking Loan Approval Date 4/19/2007 Loan Approval Gross Amount $23,000 Loan Approval from the SBA Of the total $23,000 loan amount, the SBA guaranteed $19,550. 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 documents indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Advice on Getting a Small Business Loan SBA 7A Banks in Mount Airy, North Carolina
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