Stanton, Kentucky Bank Gives SBA Loan to Motor Vehicle Towing Company

Get SBA loans from a Stanton, Kentucky bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Peoples Exchange Bank is a Stanton, Kentucky small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Kentucky company.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
CHAVIES, KY 41727

SBA Loan Lender

PEOPLES EXCHANGE BANK
53 E PENDLETON ST
STANTON, KY 40380

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

7/29/2005

Loan Approval Gross Amount

$76,329

Loan Approval from the SBA

Of the total $76,329 loan amount, the SBA guaranteed $64,879.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Peoples Exchange Bank and they will explain how you can get an SBA loan for your company.

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:

Determining Proper Capital Structure for a Business

SBA Approved Banks in Stanton, Kentucky

Kentucky SBA Banks