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| Entrepreneur Resources | Citibank Miami Business Loans | ||||
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Banks in Illinois
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Loans for General Freight Trucking, Long Distance, TruckloadLooking for loans for general freight trucking, long distance, truckload? Talk to a banker who works with the SBA. This $50,000 general freight trucking, long distance, truckload loan was issued by a Florida bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Burr Ridge, Illinois was able to borrow $50,000 from Citibank. The SBA made the loan possible by guaranteeing $25,000 of this Illinois small business loan. SBA Loan Borrower A V INC SBA Loan Lender CITIBANK The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 484121 - General Freight Trucking, Long Distance, Truckload Loan Approval Date 5/27/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower, A V Inc, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 20 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. A V Inc needed a loan. Citibank probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Citibank made the loan. The end result was that A V Inc 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 SBA loan database. Related Links: Obtaining Funding - Getting Venture Capital Small Bank Loans in Miami, Florida If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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