Entrepreneur Works With Louisville, Kentucky Bank to Get an SBA Loan

Thinking about meeting with a Louisville, Kentucky bank about an SBA loan? Here's one Kentucky business loan, issued by a Louisville bank, that was approved by the SBA.

Applying for an SBA loan with National City Bank worked out well for our friends at one local firm in Danville, Kentucky. They received an SBA loan for $223,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
Danville, KY 40422

SBA Loan Lender

NATIONAL CITY BANK
101 S 5TH ST
LOUISVILLE, KY 40202

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

8/4/2005

Loan Approval Gross Amount

$223,000

Loan Approval from the SBA

Of the total $223,000 loan amount, the SBA guaranteed $111,500.

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 SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from National City Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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

Good Banks for Small Business in Louisville, Kentucky

Kentucky SBA Banks