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December 20, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Pikeville, Business Loans > Branch Bank & Trust Pikeville Business Loans > Racetracks Loan | ||||
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KY Small Business Loans from Branch Bank & Trust
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Business Loan from Branch Bank & Trust Given to Racetracks CompanyBranch Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Kentucky entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Isom, Kentucky was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Branch Bank & Trust, operating out of Pikeville, Kentucky. Here are the details on this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: RACETRACKS SBA Loan Lender BRANCH BANK & TRUST 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 7948 - NAICS Code 711212 - Racetracks Loan Approval Date 3/14/2001 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. 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 15 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Branch Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Borrowing Money from Friends and Family Best Banks for Small Business in Pikeville, Kentucky
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