General Freight Trucking, Local Loans

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 $21,000 was given to an Illinois entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Farmer City, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Farmer City State Bank, based in Farmer City, Illinois.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
FARMER CITY, IL 61842

SBA Loan Lender

FARMER CITY STATE BANK
333 S MAIN ST
FARMER CITY, IL 61842

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.

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

8/30/2005

Loan Approval Gross Amount

$21,000

Loan Approval from the SBA

Of the total $21,000 loan amount, the SBA guaranteed $17,850.

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 4 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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

Small Bank Loans in Farmer City, Illinois

Getting a Business Loan in Illinois