Raising Money for Specialized Local Freight Trucking

Looking for business loans for specialized local freight trucking? Try the SBA. This $64,450 specialized local freight trucking loan was issued by an Illinois bank.

This small business knew how to go about getting a business bank loan. Based in Fairmount, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First National Bank - Danville, based in Danville, Illinois.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
FAIRMOUNT, IL 61841

SBA Loan Lender

FIRST NATIONAL BANK - DANVILLE
ONE TOWNE CENTRE
DANVILLE, IL 61832

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

4212 - Local Trucking Without Storage

NAICS Code

484220 - Specialized Local Freight Trucking

Loan Approval Date

3/11/2004

Loan Approval Gross Amount

$64,450

Loan Approval from the SBA

Of the total $64,450 loan amount, the SBA guaranteed $54,783.

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. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 National Bank - Danville 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:

Obtaining Funding - Friends and Family

Banks in Danville, Illinois

Illinois SBA 7A Lenders