Commercial Loans for General Freight Trucking, Local

Looking for commercial loans for general freight trucking, local? Try 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 Ropesville, Texas was able to borrow $50,000 from American Bank Of Commerce. 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
ROPESVILLE, TX 79358

SBA Loan Lender

AMERICAN BANK OF COMMERCE
W 82ND ST AND US HWY 62/82
WOLFFORTH, TX 79382

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

4/30/2004

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 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 2 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from American Bank Of Commerce 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:

The Friends and Family Network

Small Business Banks in Wolfforth, Texas

Texas SBA 7A Lenders