Commercial Loans for Freight Transportation Arrangement

With these commercial loans for freight transportation arrangement, the SBA guarantees the lender that the loan will be repaid. This freight transportation arrangement loan for $30,000 was given to a Kansas entrepreneur in 2001.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with 1st National Bank - Ola, out of Overland Park, Kansas. The loan was granted and they received $30,000 to help grow their Olathe, Kansas business.

SBA Loan Borrower

COMPANY TYPE: ARRANGEMENT OF TRANSPORTATION OF FREIGHT AND CARGO
OLATHE, KS 66061

SBA Loan Lender

1ST NATIONAL BANK - OLA
7800 COLLEGE BLVD
OVERLAND PARK, KS 66210

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4731 - Arrangement of Transportation of Freight and Cargo

NAICS Code

488510 - Freight Transportation Arrangement

Loan Approval Date

8/3/2001

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

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.

Related Links:

VC Firms on Twitter

Best Banks for Small Business in Overland Park, Kansas

Getting a Business Loan in Kansas