Bituminous Coal Underground Mining Loans

With these loans for bituminous coal underground mining, the SBA guarantees the lender that the loan will be repaid. This bituminous coal underground mining loan for $425,000 was given to a Kentucky entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in La Grange, Kentucky was able to borrow $425,000 from Community Trust Bank, Inc.. The SBA made the loan possible by guaranteeing $318,750 of this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: BITUMINOUS COAL UNDERGROUND MINING
LA GRANGE, KY 40031

SBA Loan Lender

COMMUNITY TRUST BANK, INC.
346 N MAYO TRL
PIKEVILLE, KY 41501

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1222 - Bituminous Coal Underground Mining

NAICS Code

212112 - Bituminous Coal Underground Mining

Loan Approval Date

10/27/2000

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

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 29 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Getting a Small Business Loan

SBA Participating Banks in Pikeville, Kentucky

SBA Kentucky Lenders