Commercial Loans for General Long-Distance Freight Trucking

With these commercial loans for general long-distance freight trucking, the SBA guarantees the lender that the loan will be repaid. This general long-distance freight trucking loan for $315,500 was given to an Arkansas entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Russellville, Arkansas was able to borrow $315,500 from First State Bank. The SBA made the loan possible by guaranteeing $157,750 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING
RUSSELLVILLE, AR 72801

SBA Loan Lender

FIRST STATE BANK
3103 E MAIN
RUSSELLVILLE, AR 72802

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

484121 - General Long-Distance Freight Trucking

Loan Approval Date

9/26/2005

Loan Approval Gross Amount

$315,500

Loan Approval from the SBA

Of the total $315,500 loan amount, the SBA guaranteed $157,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 21 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 21 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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