Raising Money for Specialized Long-Distance Freight Trucking

With these business loans for specialized long-distance freight trucking, the SBA guarantees the lender that the loan will be repaid. This specialized long-distance freight trucking loan for $87,500 was given to a Missouri entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Mineral Point, Missouri, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was First State Community Bank, based in Farmington, Missouri.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LONG-DISTANCE FREIGHT TRUCKING
MINERAL POINT, MO 63660

SBA Loan Lender

FIRST STATE COMMUNITY BANK
201 E COLUMBIA
FARMINGTON, MO 63640

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484230 - Specialized Long-Distance Freight Trucking

Loan Approval Date

2/21/2006

Loan Approval Gross Amount

$87,500

Loan Approval from the SBA

Of the total $87,500 loan amount, the SBA guaranteed $74,375.

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 SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First State Community Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Startup Funding Tip

Where to Get an SBA Loan in Farmington, Missouri

Missouri SBA 7A Lenders