Central Bank & Trust Co. Provides SBA Loan to Buy Great Harvest Bread Co. Franchise

Need money to purchase a Great Harvest Bread Co. franchise? Central Bank & Trust Co. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Great Harvest Bread Co. franchise shouldn't be overly burdensome. In 2002, Central Bank & Trust Co. issued an SBA franchise loan to an entrepreneur in Lexington, Kentucky. Because Great Harvest Bread Co. was registered with the SBA's registry of franchises, this Kentucky small business loan was issued on an expedited basis.

SBA Loan Borrower

GREAT HARVEST BREAD COMPANY
LEXINGTON, KY 40513

SBA Loan Lender

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

This lender issued this SBA bank loan under the SBA's 7A loan, 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.

SIC Code

2051 - Bread, Cake, and Related Bakery Products

NAICS Code

311812 - Commercial Bakeries

Loan Approval Date

11/18/2002

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Great Harvest Bread Co. franchise. At the time of the loan, the company had 28 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Central Bank & Trust Co. and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Great Harvest Bread Company

Obtaining Funding - How to Decide How Much to Raise

SBA Banks in Lexington, Kentucky

Getting a Business Loan in Kentucky