How to Get a Loan for General Freight Trucking, Local

Looking for business loans for general freight trucking, local? An SBA loan may be just what you've been looking for. This $43,000 general freight trucking, local loan was issued by a Maine bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Turner Me, Maine was able to borrow $43,000 from Androscoggin Savings Bank. The SBA made the loan possible by guaranteeing $36,550 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
TURNER ME, ME 04282

SBA Loan Lender

ANDROSCOGGIN SAVINGS BANK
38 MAIN ST
LIVERMORE FALLS, ME 04254

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.

SIC Code

4212 - Local Trucking Without Storage

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

2/3/2003

Loan Approval Gross Amount

$43,000

Loan Approval from the SBA

Of the total $43,000 loan amount, the SBA guaranteed $36,550.

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 only one employee. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Androscoggin Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 Livermore Falls, Maine

Maine SBA Banks