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November 15, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Columbus, Business Loans > The Huntington National Bank Columbus Business Loans > Sporting Goods Stores Loan | ||||
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Florence Small Business Loans from The Huntington National Bank
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Florence, Kentucky Business Gets SBA-Guaranteed Funding from The Huntington National BankThe Huntington National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Kentucky entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Florence, Kentucky was able to borrow $25,000 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $12,500 of this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES SBA Loan Lender THE HUNTINGTON NATIONAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 10/9/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 no employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Huntington National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Huntington National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks in Columbus, Ohio
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