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November 15, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Florence, Business Loans > First Security Tr Bank Inc. Florence Business Loans > Eating Places Loan | ||||
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Kentucky SBA Banks
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Florence, Kentucky Bank Lends Money to Eating Places Company in Hebron, KentuckyThinking about meeting with a Florence, Kentucky bank about a business loan? Here's one Kentucky business loan, issued by a Florence bank, that was approved by the SBA. Applying for an SBA loan with First Security Tr Bank Inc. worked out well for our friends at one local business in Hebron, Kentucky. The business was able to get an SBA loan for $378,400. Nice! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FIRST SECURITY TR BANK INC. This 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. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 8/23/2005 Loan Approval Gross Amount $378,400 Loan Approval from the SBA Of the total $378,400 loan amount, the SBA guaranteed $283,800. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 40 employees. This SBA loan request 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! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Advice on Getting a Small Business Loan Where to Get an SBA Loan in Florence, Kentucky
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