Get an SBA Loan for Freight Transportation Arrangement
With these small business loans for freight transportation arrangement, the SBA guarantees the lender that the loan will be repaid. This freight transportation arrangement loan for $56,500 was given to a Massachusetts entrepreneur in 2004.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ballardvale, Massachusetts was able to borrow $56,500 from Bank Of America. The SBA made the loan possible by guaranteeing $28,250 of this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: FREIGHT TRANSPORTATION ARRANGEMENT
BALLARDVALE, MA 01835
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
488510 - Freight Transportation Arrangement
Loan Approval Date
2/19/2004
Loan Approval Gross Amount
$56,500
Loan Approval from the SBA
Of the total $56,500 loan amount, the SBA guaranteed $28,250.
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 only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 5 existing jobs.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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.
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Small Bank Loans in Providence, Rhode Island
Rhode Island SBA Bank Lenders