Mount Sterling, Kentucky Lender Lends Money to Family Clothing Stores Company

Get small business loans from a Mount Sterling, Kentucky bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Traditional Bank, Inc. is a Mount Sterling, Kentucky small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Kentucky company.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
MOREHEAD, KY 40351

SBA Loan Lender

TRADITIONAL BANK, INC.
49 W MAIN ST
MOUNT STERLING, KY 40353

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5651 - Family Clothing Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

5/1/2003

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 3 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

If you are working on finding money to start a business in Morehead KY, you ought to talk with a local Morehead SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Morehead businesses.

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

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SBA 7A Banks for Mount Sterling, Kentucky Loans

Kentucky SBA 7A Lenders