Commercial Loans for Specialized Long-Distance Freight Trucking

Looking for commercial loans for specialized long-distance freight trucking? Try the SBA. This $560,000 specialized long-distance freight trucking loan was issued by a North Dakota bank.

Getting a small business loan in Langdon, North Dakota was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Farmers & Merchants St. Bk, operating out of Langdon, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
LANGDON, ND 58249

SBA Loan Lender

FARMERS & MERCHANTS ST. BK
816 THIRD ST
LANGDON, ND 58249

This lender issued this SBA business loan under the SBA 7A lending program , 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

11/21/2001

Loan Approval Gross Amount

$560,000

Loan Approval from the SBA

Of the total $560,000 loan amount, the SBA guaranteed $420,000.

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 8 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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