First Finan Bank SBA Loan to Jewelry Stores Company

An SBA loan from First Finan Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Elsmere, Kentucky business owner got a $356,563 loan.

Getting a small business loan in Elsmere, Kentucky was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Finan Bank, operating out of Burlington, Kentucky. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
ELSMERE, KY 41018

SBA Loan Lender

FIRST FINAN BANK
6081 LIMABURG RD
BURLINGTON, KY 41005

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

11/12/2003

Loan Approval Gross Amount

$356,563

Loan Approval from the SBA

Of the total $356,563 loan amount, the SBA guaranteed $267,422.

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 12 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Elsmere KY, you ought to talk with a local Elsmere SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Elsmere businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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