Local Business Gets a Kentucky SBA Loan

Would a Kentucky business loan help your company expand? If so, you may want to talk with this Kentucky bank, which offers SBA loans to Kentucky entrepreneurs.

This company, based in Flatwoods, Kentucky, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from City National Bank - W. Virginia. We've got the inside scoop on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE RENTAL
FLATWOODS, KY 41139

SBA Loan Lender

CITY NATIONAL BANK - W. VIRGINIA
1414 ASHLAND RD
GREENUP, KY 41144

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

7841 - Video Tape Rental

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

11/13/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

We can help you find the best banks for small businesses in Flatwoods or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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