Growing Company Gets a Kentucky Business Loan

Would a Kentucky bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Kentucky bank, which offers SBA loans to Kentucky entrepreneurs.

Getting a small business loan in Lexington, Kentucky was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Central Bank & Trust Co.. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
LEXINGTON, KY 40515

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/11/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 5 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Central Bank & Trust Co. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Central Bank & Trust Co. 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.

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