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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > General Long-Distance Freight Trucking Loan | ||||
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How to Get SBA Loans in Summit, Illinois
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Financing for General Long-Distance Freight TruckingLooking for commercial loans for general long-distance freight trucking? Try the SBA. This $43,000 general long-distance freight trucking loan was issued by a Nevada bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Summit, Illinois was able to borrow $43,000 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $21,500 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender WASHINGTON MUTUAL BANK This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 10/26/2007 Loan Approval Gross Amount $43,000 Loan Approval from the SBA Of the total $43,000 loan amount, the SBA guaranteed $21,500. 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 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 17 existing jobs. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Washington Mutual Bank 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. Related Links: Best Henderson, Nevada Banks for Small Business
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