Specialized Local Freight Trucking SBA Loans

Looking for SBA loans for specialized local freight trucking? Talk to a banker who works with the SBA. This $69,500 specialized local freight trucking loan was issued by a North Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Locust, North Carolina was able to borrow $69,500 from Bank Of Stanly. The SBA made the loan possible by guaranteeing $34,750 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
LOCUST, NC 28097

SBA Loan Lender

BANK OF STANLY
167 N 2ND ST
ALBEMARLE, NC 28001

This bank 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

484220 - Specialized Local Freight Trucking

Loan Approval Date

4/9/2004

Loan Approval Gross Amount

$69,500

Loan Approval from the SBA

Of the total $69,500 loan amount, the SBA guaranteed $34,750.

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 12 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 18 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Locust NC, you ought to talk with a local Locust SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Locust businesses.

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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