Specialized Local Freight Trucking Commercial Loans

Looking for commercial loans for specialized local freight trucking? The SBA may be the answer. This $94,900 specialized local freight trucking loan was issued by a New Hampshire bank.

Getting a small business loan in Bow (bow Mills), New Hampshire was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Merrimack County Savings Bank, operating out of Bow, New Hampshire. Here are the details on this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
BOW (BOW MILLS), NH 03304

SBA Loan Lender

MERRIMACK COUNTY SAVINGS BANK
503 SOUTH ST
BOW, NH 03304

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

484220 - Specialized Local Freight Trucking

Loan Approval Date

4/19/2005

Loan Approval Gross Amount

$94,900

Loan Approval from the SBA

Of the total $94,900 loan amount, the SBA guaranteed $47,450.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

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