Borrowing Money for Specialized Local Freight Trucking

Looking for bank loans for specialized local freight trucking? Talk to a banker who works with the SBA. This $150,000 specialized local freight trucking loan was issued by a North Carolina bank.

This small firm knew how to go about getting a business bank loan. Based in Magnolia, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Four Oaks Bank & Trust Company, based in Four Oaks, North Carolina.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
MAGNOLIA, NC 28453

SBA Loan Lender

FOUR OAKS BANK & TRUST COMPANY
6114 US HWY 301 SOUTH
FOUR OAKS, NC 27524

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

4212 - Local Trucking Without Storage

NAICS Code

484220 - Specialized Local Freight Trucking

Loan Approval Date

2/28/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 4 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Four Oaks Bank & Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Getting a Small Business Loan

Small Business Banks in Four Oaks, North Carolina

Where to Get an SBA Loan North Carolina