Business Loan from First Kentucky Bank, Inc. Given to Freight Transportation Arrangement Company

An SBA loan from First Kentucky Bank, Inc. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mayfield, Kentucky business owner got a $30,000 loan.

Getting a small business loan in Mayfield, Kentucky was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First Kentucky Bank, Inc., operating out of Mayfield, Kentucky. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: FREIGHT TRANSPORTATION ARRANGEMENT
MAYFIELD, KY 42066

SBA Loan Lender

FIRST KENTUCKY BANK, INC.
223 S 6TH
MAYFIELD, KY 42066

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

488510 - Freight Transportation Arrangement

Loan Approval Date

1/19/2007

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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

Related Links:

Angel Investors

Good Banks for Small Business in Mayfield, Kentucky

Kentucky SBA 7A Lenders