Business Loans for General Freight Trucking, Long Distance, Truckload

Looking for business loans for general freight trucking, long distance, truckload? An SBA loan may be just what you've been looking for. This $45,500 general freight trucking, long distance, truckload loan was issued by a Texas bank.

Getting a small business loan in Dripping Springs, Texas was important for Cothern Transportation Inc back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First State Bank Central Texas, operating out of Austin, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COTHERN TRANSPORTATION INC
1007 CANYON BEND DRIVE
DRIPPING SPRINGS, TX 78620

SBA Loan Lender

FIRST STATE BANK CENTRAL TEXAS
6500 N MOPAC, STE 1101
AUSTIN, TX 78731

The lender provided this commercial 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

5/31/2006

Loan Approval Gross Amount

$45,500

Loan Approval from the SBA

Of the total $45,500 loan amount, the SBA guaranteed $22,750.

More Information on This SBA Loan

The borrower, Cothern Transportation Inc, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 5 existing jobs. This loan was paid in full, and was closed out on 5/1/2007.

Next Steps for Getting an SBA Loan

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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan to Cothern Transportation Inc shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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