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November 24, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Cedar Rapids, Business Loans > Cedar Rapids Bank & Trust Cedar Rapids Business Loans > Specialized Local Freight Trucking Loan | ||||
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Marion, Iowa Bank Loan
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Financing for Specialized Local Freight TruckingLooking for commercial loans for specialized local freight trucking? Try the SBA. This $44,000 specialized local freight trucking loan was issued by an Iowa bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Marion, Iowa was able to borrow $44,000 from Cedar Rapids Bank & Trust. The SBA made the loan possible by guaranteeing $22,000 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING SBA Loan Lender CEDAR RAPIDS BANK & TRUST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 1/28/2005 Loan Approval Gross Amount $44,000 Loan Approval from the SBA Of the total $44,000 loan amount, the SBA guaranteed $22,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business If you need money to start a business or need money for an existing business, an SBA loan can be a great source of funding. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cedar Rapids Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cedar Rapids Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Banks in Cedar Rapids, Iowa
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