Business Loan from Hometown Bank - Corbin Inc. D/b/ Given to Book Stores Company

Hometown Bank - Corbin Inc. D/b/ is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Kentucky entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Corbin, Kentucky, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Hometown Bank - Corbin Inc. D/b/, based in Corbin, Kentucky.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
CORBIN, KY 40701

SBA Loan Lender

HOMETOWN BANK - CORBIN INC. D/B/
1030 CUMBERLAND FALLS HWY
CORBIN, KY 40701

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

5942 - Book Stores

NAICS Code

451211 - Book Stores

Loan Approval Date

3/20/2006

Loan Approval Gross Amount

$154,100

Loan Approval from the SBA

Of the total $154,100 loan amount, the SBA guaranteed $115,575.

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 loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

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Banks in Corbin, Kentucky

SBA Participating Banks in Kentucky