Financing for Transportation Equipment and Supplies Wholesalers

Looking for commercial loans for transportation equipment and supplies wholesalers? Try the SBA. This $200,000 transportation equipment and supplies wholesalers loan was issued by an Arkansas bank.

This business knew how to go about getting a business bank loan. Based in Pine Bluff, Arkansas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Elk Horn Bank & Trust Company, based in Arkadelphia, Arkansas.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION EQUIPMENT AND SUPPLIES WHOLESALERS
PINE BLUFF, AR 71611

SBA Loan Lender

ELK HORN BANK & TRUST COMPANY
601 MAIN ST
ARKADELPHIA, AR 71923

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421860 - Transportation Equipment and Supplies Wholesalers

Loan Approval Date

2/12/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $180,000.

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 75 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Elk Horn 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.

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