Clinton Bank Gives Bank Loan to Beauty Shops Company
Would a Kentucky bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Kentucky bank, which offers SBA loans to Kentucky entrepreneurs.
By giving the right information to Clinton Bank, this Clinton, Kentucky business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: BEAUTY SHOPS
CLINTON, KY 42031
SBA Loan Lender
CLINTON BANK
220 E CLAY ST
CLINTON, KY 42031
This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7231 - Beauty Shops
NAICS Code
812112 - Beauty Salons
Loan Approval Date
5/29/2003
Loan Approval Gross Amount
$45,000
Loan Approval from the SBA
Of the total $45,000 loan amount, the SBA guaranteed $38,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. This SBA loan request did not indicate that the business planned to use the loan proceeds to add 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. Clinton Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Clinton Bank 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
SBA 7A Lenders in Clinton, Kentucky
Getting a Business Loan in Kentucky