Borrowing Money for General Long-Distance Freight Trucking
With these loans for general long-distance freight trucking, the SBA guarantees the lender that the loan will be repaid. This general long-distance freight trucking loan for $88,000 was given to a South Carolina entrepreneur in 2005.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Greer, South Carolina was able to borrow $88,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $44,000 of this South Carolina small business loan.
SBA Loan Borrower
COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING
GREER, SC 29651
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
This SBA small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
484121 - General Long-Distance Freight Trucking
Loan Approval Date
8/30/2005
Loan Approval Gross Amount
$88,000
Loan Approval from the SBA
Of the total $88,000 loan amount, the SBA guaranteed $44,000.
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 loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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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Business Line of Credit
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SBA Lenders in North Carolina