Getting an SBA Loan for Specialized Long-Distance Freight Trucking

With these commercial 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 $105,000 was given to a Florida entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Port, Florida was able to borrow $105,000 from Busey Bank. The SBA made the loan possible by guaranteeing $89,250 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LONG-DISTANCE FREIGHT TRUCKING
NORTH PORT, FL 34286

SBA Loan Lender

BUSEY BANK
7980 SUMMERLIN LAKES DRIVE
FORT MYERS, FL 33907

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.

NAICS Code

484230 - Specialized Long-Distance Freight Trucking

Loan Approval Date

9/13/2005

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Busey Bank 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.

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