SBA Loans for General Long-Distance, Less-Than-One-Truckload Freight Trucking

With these SBA loans for general long-distance, less-than-one-truckload freight trucking, the SBA guarantees the lender that the loan will be repaid. This general long-distance, less-than-one-truckload freight trucking loan for $199,000 was given to a New Mexico entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sunland Park, New Mexico was able to borrow $199,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $149,250 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE, LESS-THAN-ONE-TRUCKLOAD FREIGHT TRUCKING
SUNLAND PARK, NM 88063

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484122 - General Long-Distance, Less-Than-One-Truckload Freight Trucking

Loan Approval Date

12/5/2003

Loan Approval Gross Amount

$199,000

Loan Approval from the SBA

Of the total $199,000 loan amount, the SBA guaranteed $149,250.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

Remember, 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Cit Small Business Lending Corp and they will explain how you can get an SBA loan for your company.

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:

VC Firms on Twitter

Small Bank Loans in Livingston, New Jersey

SBA New Jersey Lenders