How to Get a Loan for General Freight Trucking, Local

Looking for business loans for general freight trucking, local? Try the SBA. This $60,000 general freight trucking, local loan was issued by a North Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Conetoe, North Carolina was able to borrow $60,000 from First South Bank. The SBA made the loan possible by guaranteeing $51,000 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
CONETOE, NC 27819

SBA Loan Lender

FIRST SOUTH BANK
239 W MAIN ST
WASHINGTON, NC 27889

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4212 - Local Trucking Without Storage

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

4/10/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Conetoe or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

How to Raise Money

Good Banks for Small Business in Washington, North Carolina

Where to Get an SBA Loan North Carolina