Lexington, Kentucky Bank Gives SBA Loan to Fitness And Recreational Sports Centers Company

Get to know Lexington, Kentucky banks that specialize in business loans and know how to work with entrepreneurs. Republic Bank & Trust Company is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Lexington, Kentucky starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Republic Bank & Trust Company. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
LEXINGTON, KY 40509

SBA Loan Lender

REPUBLIC BANK & TRUST COMPANY
3098 HELMSDALE PL
LEXINGTON, KY 40509

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

10/19/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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Where to Get an SBA Loan Kentucky