How to Get a Loan for Specialized Local Freight Trucking

With these business loans for specialized local freight trucking, the SBA guarantees the lender that the loan will be repaid. This specialized local freight trucking loan for $519,539 was given to a New York entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Niagara Bank, out of Auburn, New York. The loan was granted and they received $519,539 to help grow their Camillus, New York business.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITH STORAGE
CAMILLUS, NY 13031

SBA Loan Lender

FIRST NIAGARA BANK
115 GENESEE ST
AUBURN, NY 13021

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4214 - Local Trucking With Storage

NAICS Code

484220 - Specialized Local Freight Trucking

Loan Approval Date

1/20/2004

Loan Approval Gross Amount

$519,539

Loan Approval from the SBA

Of the total $519,539 loan amount, the SBA guaranteed $389,654.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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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