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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Humble, Business Loans > Sterling Bank Humble Business Loans > General Freight Trucking, Local Loan | ||||
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How Hard Is It to Get a Small Business Loan in Richmond, Texas?
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Business Loans for General Freight Trucking, LocalLooking for business loans for general freight trucking, local? Talk to a banker who works with the SBA. This $50,000 general freight trucking, local loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Richmond, Texas was able to borrow $50,000 from Sterling Bank. The SBA made the loan possible by guaranteeing $42,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender STERLING BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484110 - General Freight Trucking, Local Loan Approval Date 9/28/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 2 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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:
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