SBA Loans for Specialized Local Freight Trucking

Looking for SBA loans for specialized local freight trucking? The SBA may be the answer. This $67,950 specialized local freight trucking loan was issued by a Wisconsin bank.

This small business knew how to go about getting a business bank loan. Based in Wabeno, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Covantage Cu, based in Antigo, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
WABENO, WI 54566

SBA Loan Lender

COVANTAGE CU
723 6TH AVE
ANTIGO, WI 54409

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484220 - Specialized Local Freight Trucking

Loan Approval Date

6/29/2004

Loan Approval Gross Amount

$67,950

Loan Approval from the SBA

Of the total $67,950 loan amount, the SBA guaranteed $57,757.

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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Small Business Loan

Best Antigo, Wisconsin Banks for Small Business

Wisconsin SBA Banks