SBA Loan from Branch Bank & Trust Helps Coin-Operated Laundries And Drycleaning Company

An SBA loan from Branch Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lewisburg, Kentucky business owner got a $56,595 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lewisburg, Kentucky was able to borrow $56,595 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $48,105 of this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
LEWISBURG, KY 42556

SBA Loan Lender

BRANCH BANK & TRUST
102 NW PARK SQ
RUSSELLVILLE, KY 42276

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

7215 - Coin-Operated Laundries and Drycleaning

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

3/1/2002

Loan Approval Gross Amount

$56,595

Loan Approval from the SBA

Of the total $56,595 loan amount, the SBA guaranteed $48,105.

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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

504 Loans

SBA Approved Banks in Russellville, Kentucky

Kentucky SBA 7A Lenders