Growing Company Gets a Kentucky Small Business Loan

Looking to get a Kentucky bank loan? This Kentucky entrepreneur got a bank loan, provided by a Kentucky bank that works with the SBA to help small business owners.

This company, based in Florence, 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 The Bank Of Kentucky, Inc. We've got the inside scoop on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: METALS SERVICE CENTERS AND OFFICES
FLORENCE, KY 41042

SBA Loan Lender

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

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5051 - Metals Service Centers and Offices

NAICS Code

421510 - Metal Service Centers and Offices

Loan Approval Date

1/25/2000

Loan Approval Gross Amount

$495,000

Loan Approval from the SBA

Of the total $495,000 loan amount, the SBA guaranteed $371,250.

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 7 employees. This SBA loan request did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Bank Of Kentucky, Inc and they will explain how you can get an SBA loan for your company.

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:

Financing Your Business

SBA Participating Banks in Crestview Hills, Kentucky

Getting an SBA Loan in Kentucky