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December 19, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > General Long-Distance, Less-Than-One-Truckload Freight Trucking Loan | ||||
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Suntrust Bank Loans
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Business Loans for General Long-Distance, Less-Than-One-Truckload Freight TruckingLooking for business loans for general long-distance, less-than-one-truckload freight trucking? Try the SBA. This $34,900 general long-distance, less-than-one-truckload freight trucking loan was issued by a Virginia bank. This small business knew how to go about getting a business bank loan. Based in Saint Helena Island, South Carolina, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Suntrust Bank, based in Richmond, Virginia. SBA Loan Borrower COMPANY TYPE: GENERAL LONG-DISTANCE, LESS-THAN-ONE-TRUCKLOAD FREIGHT TRUCKING SBA Loan Lender SUNTRUST BANK The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 484122 - General Long-Distance, Less-Than-One-Truckload Freight Trucking Loan Approval Date 8/18/2006 Loan Approval Gross Amount $34,900 Loan Approval from the SBA Of the total $34,900 loan amount, the SBA guaranteed $17,450. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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 Suntrust 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: Where to Get an SBA Loan in Richmond, Virginia
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