Columbia, Kentucky Entrepreneur Gets a Business Loan

SBA loans in Kentucky are are few and far betweeen these days. We take a look at one Kentucky SBA loan, provided by a Kentucky bank, that was approved by the SBA.

Getting a small business loan in Columbia, Kentucky was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Forcht Bank. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION EQUIPMENT RENTAL AND LEASING
COLUMBIA, KY 42728

SBA Loan Lender

FORCHT BANK
102-108 N PUBLIC SQ
GREENSBURG, KY 42743

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7353 - Heavy Construction Equipment Rental and Leasing

NAICS Code

532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing

Loan Approval Date

7/25/2002

Loan Approval Gross Amount

$257,500

Loan Approval from the SBA

Of the total $257,500 loan amount, the SBA guaranteed $193,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Forcht Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Role of Business Plan When Raising Money

SBA 7A Banks in Greensburg, Kentucky

SBA Participating Banks in Kentucky