Kentucky Entrepreneur Secures Financing to Buy Contours Express Franchise

Need a loan to invest in a Contours Express franchise? Hometown Bank - Corbin Inc. D/b/ has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Contours Express franchise shouldn't be overly burdensome. In 2006, Hometown Bank - Corbin Inc. D/b/ issued an SBA franchise loan to an entrepreneur in Corbin, Kentucky. Because Contours Express was registered with the SBA's registry of franchises, this Kentucky small business loan was issued on an expedited basis.

SBA Loan Borrower

NEIEL DEVELOPMENT GROUP INC
CORBIN, KY 40701

SBA Loan Lender

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

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

1/31/2006

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $108,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Contours Express franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $145,000. How would you spend $145,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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