Louisville, KY Entrepreneur Gets SBA Loan to Buy UPS Store Franchise

Borrowing money to invest in an UPS Store franchise? Stock Yards Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an UPS Store franchise? If so, here's a 2006 SBA franchise loan that you should know about. Stock Yards Bank & Trust was the lender and the entrepreneur was based in Louisville, Kentucky.

SBA Loan Borrower

THE UPS STORE
LOUISVILLE, KY 40222

SBA Loan Lender

STOCK YARDS BANK & TRUST
1040 E MAIN ST
LOUISVILLE, KY 40202

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

453998 - Store Retailers

Loan Approval Date

9/20/2006

Loan Approval Gross Amount

$430,000

Loan Approval from the SBA

Of the total $430,000 loan amount, the SBA guaranteed $322,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an UPS Store franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Louisville KY, you ought to talk with a local Louisville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Louisville 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 Stock Yards Bank & Trust 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:

Microlending as a Small Business Funding Source

SBA Banks in Louisville, Kentucky

Getting an SBA Loan in Kentucky