Firm Gets a Kentucky Business Loan

KentuckySmall business loans are available to Kentucky small business owners through the SBA. In this case, a Kentucky bank provides the loan.

Getting a small business loan in Lexington, Kentucky was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Traditional Bank, Inc.. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
LEXINGTON, KY 40515

SBA Loan Lender

TRADITIONAL BANK, INC.
3720 PALOMAR CENTRE DR
LEXINGTON, KY 40513

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

7/27/2004

Loan Approval Gross Amount

$41,374

Loan Approval from the SBA

Of the total $41,374 loan amount, the SBA guaranteed $35,167.

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. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Getting a Small Business Loan

Find an SBA Lender in Lexington, Kentucky

Getting a Business Loan in Kentucky