Financing for Specialized Local Freight Trucking

With these commercial loans for specialized local freight trucking, the SBA guarantees the lender that the loan will be repaid. This specialized local freight trucking loan for $61,900 was given to a Texas entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Clarendon, Texas, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Pilgrim Bank Texas, based in Wellington, Texas.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
CLARENDON, TX 79226

SBA Loan Lender

PILGRIM BANK TEXAS
1705 E 15TH ST
WELLINGTON, TX 79095

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484220 - Specialized Local Freight Trucking

Loan Approval Date

2/25/2004

Loan Approval Gross Amount

$61,900

Loan Approval from the SBA

Of the total $61,900 loan amount, the SBA guaranteed $52,615.

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 did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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