Kentucky Bank Loan Issued to Beauty Shops Company

Searching for a Kentucky small business loan? This Kentucky entrepreneur got a small business loan, provided by a Kentucky bank that works with the SBA to help small business owners.

Getting a small business loan in Lexington, Kentucky was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Citizens Bank. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
LEXINGTON, KY 40509

SBA Loan Lender

THE CITIZENS BANK
114 W MAIN ST
MOREHEAD, KY 40351

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

10/28/2002

Loan Approval Gross Amount

$335,000

Loan Approval from the SBA

Of the total $335,000 loan amount, the SBA guaranteed $251,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Citizens Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Citizens Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Realistic Debt Financing Options

SBA 7A Banks for Morehead, Kentucky Loans

Getting an SBA Loan in Kentucky