Local Business Gets a Kentucky SBA Loan

Would a Kentucky business loan help your company expand? If so, you may want to talk with this Kentucky bank, which offers SBA loans to Kentucky entrepreneurs.

You can learn something about getting a small business loan in Bowling Green, Kentucky by studying this loan to a local business, made back in 2006. Banks like Amer Bank & Trust Inc. may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: OPERATIVE BUILDERS
BOWLING GREEN, KY 42101

SBA Loan Lender

AMER BANK & TRUST INC.
1302 SCOTTSVILLE RD
BOWLING GREEN, KY 42104

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

1531 - Operative Builders

NAICS Code

236220 - Commercial and Institutional Building Construction

Loan Approval Date

3/3/2006

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised 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?

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. The company needed a loan. Amer Bank & Trust Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Amer Bank & Trust Inc. 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.

Related Links:

Understanding Dilution

Small Bank Loans in Bowling Green, Kentucky

SBA Kentucky Lenders