Glasgow, Kentucky Bank Lends Money to Sports And Recreation Instruction Company in Glasgow, Kentucky

Want to talk with a Glasgow, Kentucky bank about an SBA loan? Here's one Kentucky business loan, issued by a Glasgow bank, that was approved by the SBA.

Applying for an SBA loan with South Cent. Bank - Barren County worked out well for our friends at one local firm in Glasgow, Kentucky. They got an SBA loan for $400,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
GLASGOW, KY 42141

SBA Loan Lender

SOUTH CENT. BANK - BARREN COUNTY
208 S BROADWAY
GLASGOW, KY 42141

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

11/1/2004

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like South Cent. Bank - Barren County that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Obtaining Funding - How to Borrow Money

SBA Approved Banks in Glasgow, Kentucky

Kentucky SBA Bank Lenders