SBA Loans for Specialized Long-Distance Freight Trucking

With these SBA loans for specialized long-distance freight trucking, the SBA guarantees the lender that the loan will be repaid. This specialized long-distance freight trucking loan for $1,254,000 was given to an Indiana entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Indianapolis, Indiana was able to borrow $1,254,000 from Community So. Bank D.B.A Commun. The SBA made the loan possible by guaranteeing $940,500 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
INDIANAPOLIS, IN 46221

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902

This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4213 - Trucking

NAICS Code

484230 - Specialized Long-Distance Freight Trucking

Loan Approval Date

4/4/2005

Loan Approval Gross Amount

$1,254,000

Loan Approval from the SBA

Of the total $1,254,000 loan amount, the SBA guaranteed $940,500.

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 35 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Community So. Bank D.B.A Commun are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Line of Credit

SBA 7A Lenders in Knoxville, Tennessee

Tennessee SBA 7A Banks