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December 19, 2024 |
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| Home > Small Business Lenders by State > Arkansas Business Loan Sources > Jonesboro, Business Loans > Liberty Bank Of Arkansas Jonesboro Business Loans > General Freight Trucking, Local Loan | ||||
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Business Loans for Trumann Entrepreneurs
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Where to Get Capital for General Freight Trucking, LocalLooking for small business loans for general freight trucking, local? The SBA may be the answer. This $100,000 general freight trucking, local loan was issued by an Arkansas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Trumann, Arkansas was able to borrow $100,000 from Liberty Bank Of Arkansas. The SBA made the loan possible by guaranteeing $85,000 of this Arkansas small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender LIBERTY BANK OF ARKANSAS The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484110 - General Freight Trucking, Local Loan Approval Date 11/3/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 Liberty Bank Of Arkansas 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: Obtaining Funding - How to Borrow Money Best Banks in Jonesboro, Arkansas
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