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November 15, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Mount Sterling, Business Loans > Traditional Bank, Inc. Mount Sterling Business Loans > Poured Concrete Foundation And Structure Contractors Loan | ||||
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Traditional Bank, Inc.
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Business Loan from Traditional Bank, Inc. Given to Poured Concrete Foundation And Structure Contractors CompanyTraditional Bank, Inc. has a track record as a leading provider of SBA loans. Find out how this Kentucky entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Lexington, Kentucky, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Traditional Bank, Inc., based in Mount Sterling, Kentucky. SBA Loan Borrower COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS SBA Loan Lender TRADITIONAL BANK, INC. Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238110 - Poured Concrete Foundation and Structure Contractors Loan Approval Date 2/16/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 6 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 6 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Bank Loans in Mount Sterling, Kentucky Getting an SBA Loan in Kentucky
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