Local Business Gets a Kentucky SBA Loan

Would a Kentucky business loan help your company expand? If so, you may want to talk with this Indiana bank, which offers SBA loans to Kentucky entrepreneurs.

By giving the right information to Irwin Union Bank, F.S.B., this Louisville, Kentucky business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
LOUISVILLE, KY 40223

SBA Loan Lender

IRWIN UNION BANK, F.S.B.
500 WASHINGTON ST
COLUMBUS, IN 47202

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

7/23/2004

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. The SBA loan documents indicated that the loan would help retain 17 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

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