Financing for General Freight Trucking, Local

With these loans for general freight trucking, local, the SBA guarantees the lender that the loan will be repaid. This general freight trucking, local loan for $11,500 was given to an Arkansas entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dumas, Arkansas was able to borrow $11,500 from Merchants & Farmers Bank. The SBA made the loan possible by guaranteeing $9,775 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION SERVICES
DUMAS, AR 71639

SBA Loan Lender

MERCHANTS & FARMERS BANK
500 HWY 65 SOUTH
DUMAS, AR 71639

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4789 - Transportation Services

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

1/8/2001

Loan Approval Gross Amount

$11,500

Loan Approval from the SBA

Of the total $11,500 loan amount, the SBA guaranteed $9,775.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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