Williamsburg, Kentucky Lender Lends Money to Video Tape Rental Company

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

Applying for an SBA loan with Forcht Bank worked out well for our friends at one local firm in Jellico, Tennessee. The business was able to get an SBA loan for $126,000. Nice!

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE RENTAL
JELLICO, TN 37762

SBA Loan Lender

FORCHT BANK
1331 US HWY 25-W SOUTH
WILLIAMSBURG, KY 40769

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7841 - Video Tape Rental

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

8/13/2001

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $107,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Jellico TN, you ought to talk with a local Jellico SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jellico businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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