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May 9, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Specialized Local Freight Trucking Loan | ||||
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Business Loans for Vinton Businesses
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Bank Loans for Specialized Local Freight TruckingLooking for bank loans for specialized local freight trucking? The SBA may be the answer. This $134,600 specialized local freight trucking loan was issued by an Utah bank. This company knew how to go about getting a business bank loan. Based in Vinton, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Bank Of The West, based in Salt Lake City, Utah. SBA Loan Borrower COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING SBA Loan Lender BANK OF THE WEST This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484220 - Specialized Local Freight Trucking Loan Approval Date 6/18/2002 Loan Approval Gross Amount $134,600 Loan Approval from the SBA Of the total $134,600 loan amount, the SBA guaranteed $114,410. 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 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 Bank Of The West 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: A Company That Helps Entrepreneurs Who Lends Money to Small Businesses in Salt Lake City, Utah
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