SBA Loan from Pbi Bank Helps Rv Parks And Campgrounds Company

Pbi Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Kentucky entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Cave City, Kentucky, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Pbi Bank, based in Louisville, Kentucky.

SBA Loan Borrower

COMPANY TYPE: RV PARKS AND CAMPGROUNDS
CAVE CITY, KY 42127

SBA Loan Lender

PBI BANK
2500 EASTPOINT PKWY
LOUISVILLE, KY 40223

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

721211 - RV Parks and Campgrounds

Loan Approval Date

12/20/2006

Loan Approval Gross Amount

$206,000

Loan Approval from the SBA

Of the total $206,000 loan amount, the SBA guaranteed $103,000.

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 application for the borrower indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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Small Bank Loans in Louisville, Kentucky

Getting an SBA Loan in Kentucky