Business Loan from Legends Bank Given to Nursing Care Facilities Company

Legends Bank has a track record as a leading provider of SBA loans. Find out how this Kentucky entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Madisonville, Kentucky, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Legends Bank, based in Clarksville, Tennessee.

SBA Loan Borrower

COMPANY TYPE: NURSING CARE FACILITIES
MADISONVILLE, KY 42431

SBA Loan Lender

LEGENDS BANK
310 N FIRST ST
CLARKSVILLE, TN 37040

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623110 - Nursing Care Facilities

Loan Approval Date

8/24/2004

Loan Approval Gross Amount

$1,424,500

Loan Approval from the SBA

Of the total $1,424,500 loan amount, the SBA guaranteed $1,068,375.

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 80 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Legends Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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Who Lends Money to Small Businesses in Clarksville, Tennessee

Tennessee SBA 7A Lenders