SBA Loans for Musical Instrument and Supplies Stores

With these SBA loans for musical instrument and supplies stores, the SBA guarantees the lender that the loan will be repaid. This musical instrument and supplies stores loan for $26,900 was given to a Kentucky entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in Eubank, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Forcht Bank, based in Somerset, Kentucky.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT STORES
EUBANK, KY 42567

SBA Loan Lender

FORCHT BANK
1846 S HWY 27
SOMERSET, KY 42501

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5736 - Musical Instrument Stores

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

3/8/2000

Loan Approval Gross Amount

$26,900

Loan Approval from the SBA

Of the total $26,900 loan amount, the SBA guaranteed $21,520.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

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

If you need business start up money in Eubank KY, you ought to talk with a local Eubank SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Eubank businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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