Get an SBA Loan for Specialized Local Freight Trucking

Looking for bank loans for specialized local freight trucking? Try the SBA. This $40,000 specialized local freight trucking loan was issued by an Indiana bank.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First Farmers Bank And Trust, out of Converse, Indiana. The loan was granted and they received $40,000 to help grow their Wabash, Indiana business.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
WABASH, IN 46992

SBA Loan Lender

FIRST FARMERS BANK AND TRUST
123 N JEFFERSON
CONVERSE, IN 46919

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

484220 - Specialized Local Freight Trucking

Loan Approval Date

1/31/2006

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Wabash IN, you ought to talk with a local Wabash SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wabash businesses.

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 First Farmers Bank And Trust 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:

Bank Credit Lines

SBA Banks in Converse, Indiana

Where to Get an SBA Loan Indiana