How to Get a Loan for Finfish Farming and Fish Hatcheries

With these business loans for finfish farming and fish hatcheries, the SBA guarantees the lender that the loan will be repaid. This finfish farming and fish hatcheries loan for $53,500 was given to a Kentucky entrepreneur in 2001.

This small business knew how to go about getting a business bank loan. Based in Farmington, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Regions Bank, based in Memphis, Tennessee.

SBA Loan Borrower

COMPANY TYPE: FINFISH FARMING AND FISH HATCHERIES
FARMINGTON, KY 42040

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

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

112511 - Finfish Farming and Fish Hatcheries

Loan Approval Date

4/17/2001

Loan Approval Gross Amount

$53,500

Loan Approval from the SBA

Of the total $53,500 loan amount, the SBA guaranteed $40,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $53,500 loan. Remember, if it to be, it is up to me!

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:

Debt Financing

Best Banks for Small Business in Memphis, Tennessee

SBA Participating Banks in Tennessee