Raising Money for Store Retailers

With these business loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $35,000 was given to a Kentucky entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Georgetown, Kentucky was able to borrow $35,000 from Community Trust Bank, Inc.. The SBA made the loan possible by guaranteeing $29,750 of this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
GEORGETOWN, KY 40511

SBA Loan Lender

COMMUNITY TRUST BANK, INC.
346 N MAYO TRL
PIKEVILLE, KY 41501

This lender issued this small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

453998 - Store Retailers

Loan Approval Date

11/8/2006

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 Community Trust Bank, 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:

Strategic Investors

SBA Participating Banks in Pikeville, Kentucky

Kentucky SBA Banks