Ashland, Kentucky Bank Gives SBA Loan to Florists Company

Get small business loans from an Ashland, Kentucky bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

City National Bank - W. Virginia is a Ashland, Kentucky small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Kentucky company.

SBA Loan Borrower

COMPANY TYPE: FLORISTS
GRAYSON, KY 41143

SBA Loan Lender

CITY NATIONAL BANK - W. VIRGINIA
344 17TH ST
ASHLAND, KY 41101

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5992 - Florists

NAICS Code

453110 - Florists

Loan Approval Date

10/3/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. City National Bank - W. Virginia had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, City National Bank - W. Virginia 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:

Determining Proper Capital Structure for a Business

SBA 7A Banks for Ashland, Kentucky Loans

Getting an SBA Loan in Kentucky