Elsmere, Kentucky Business Gets SBA-Guaranteed Funding from The Bank Of Kentucky, Inc

An SBA loan from The Bank Of Kentucky, Inc typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Elsmere, Kentucky business owner got a $1,211,400 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Elsmere, Kentucky was able to borrow $1,211,400 from The Bank Of Kentucky, Inc. The SBA made the loan possible by guaranteeing $908,550 of this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED PIPE AND PIPE FITTING MANUFACTURING
ELSMERE, KY 41042

SBA Loan Lender

THE BANK OF KENTUCKY, INC
111 LOOKOUT FARM DR
CRESTVIEW HILLS, KY 41017

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

NAICS Code

332996 - Fabricated Pipe and Pipe Fitting Manufacturing

Loan Approval Date

12/30/2003

Loan Approval Gross Amount

$1,211,400

Loan Approval from the SBA

Of the total $1,211,400 loan amount, the SBA guaranteed $908,550.

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 20 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from The Bank Of Kentucky, Inc 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:

Attracting Investors

Good Banks for Small Business in Crestview Hills, Kentucky

Kentucky SBA 7A Lenders