First American Bank SBA Loan to General Long-Distance Freight Trucking Company
First American Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans.
This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First American Bank, out of Fort Myers, Florida. The loan was granted and they received $1,050,000 to help grow their Davenport, Iowa business.
SBA Loan Borrower
COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING
DAVENPORT, IA 52806
SBA Loan Lender
FIRST AMERICAN BANK
12730 NEW BRITTANY BLVD
FORT MYERS, FL 33907
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to American small businesses.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
484121 - General Long-Distance Freight Trucking
Loan Approval Date
6/25/2004
Loan Approval Gross Amount
$1,050,000
Loan Approval from the SBA
Of the total $1,050,000 loan amount, the SBA guaranteed $787,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 47 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels 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.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First American Bank and they will explain how you can get an SBA loan for your company.
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:
Borrowing Money from Friends and Family
Find an SBA Lender in Fort Myers, Florida
SBA Lenders in Florida