Raising Money for Freight Transportation Arrangement

With these business loans for freight transportation arrangement, the SBA guarantees the lender that the loan will be repaid. This freight transportation arrangement loan for $20,000 was given to an Illinois entrepreneur in 2002.

Getting a small business loan in Kankakee, Illinois was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Grant Pk, operating out of Grant Park, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: ARRANGEMENT OF TRANSPORTATION OF FREIGHT AND CARGO
KANKAKEE, IL 60901

SBA Loan Lender

1ST NATIONAL BANK - GRANT PK
119 N MAIN ST
GRANT PARK, IL 60940

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

4731 - Arrangement of Transportation of Freight and Cargo

NAICS Code

488510 - Freight Transportation Arrangement

Loan Approval Date

2/5/2002

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source

We can help you find the best banks for small businesses in Kankakee or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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