Mount Sterling, Kentucky Bank Lends Money to Arrangement Of Transportation Of Freight And Cargo Company in Mount Sterling, Kentucky

Get to know Mount Sterling, Kentucky banks that specialize in small business loans and know how to work with entrepreneurs. Traditional Bank, Inc. is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Mount Sterling, Kentucky starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Traditional Bank, Inc.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ARRANGEMENT OF TRANSPORTATION OF FREIGHT AND CARGO
MOUNT STERLING, KY 40353

SBA Loan Lender

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

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4731 - Arrangement of Transportation of Freight and Cargo

NAICS Code

488510 - Freight Transportation Arrangement

Loan Approval Date

9/25/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 16 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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