Borrowing Money for General Long-Distance Freight Trucking

Looking for loans for general long-distance freight trucking? An SBA loan may be just what you've been looking for. This $400,000 general long-distance freight trucking loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Warners, New York was able to borrow $400,000 from Solvay Bank. The SBA made the loan possible by guaranteeing $300,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
WARNERS, NY 13164

SBA Loan Lender

SOLVAY BANK
1537 MILTON AVE
SOLVAY, NY 13209

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4213 - Trucking

NAICS Code

484121 - General Long-Distance Freight Trucking

Loan Approval Date

3/14/2005

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 50 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

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

If you are raising money in Warners NY, you ought to talk with a local Warners SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Warners businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Solvay Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Solvay Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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