Lexington, Kentucky Bank Gives SBA Loan to Consumer Goods Rental Company

Thinking about meeting with a Lexington, Kentucky bank about a business loan? Here's one Kentucky business loan, issued by a Lexington bank, that was approved by the SBA.

Applying for an SBA loan with Central Bank & Trust Co. worked out well for our friends at one local firm in Lexington, Kentucky. The business was able to get an SBA loan for $90,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: CONSUMER GOODS RENTAL
LEXINGTON, KY 40504

SBA Loan Lender

CENTRAL BANK & TRUST CO.
300 W VINE ST
LEXINGTON, KY 40507

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532299 - Consumer Goods Rental

Loan Approval Date

3/1/2007

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Lexington or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

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SBA Banks in Lexington, Kentucky

Getting an SBA Loan in Kentucky