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November 15, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Mount Sterling, Business Loans > Traditional Bank, Inc. Mount Sterling Business Loans > Highway And Street Construction Loan | ||||
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Kentucky Small Business Funding
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Bank Loans for Highway and Street ConstructionWith these bank loans for highway and street construction, the SBA guarantees the lender that the loan will be repaid. This highway and street construction loan for $150,000 was given to a Kentucky entrepreneur in 2003. Getting a small business loan in Mt. Sterling, Kentucky was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Traditional Bank, Inc., operating out of Mount Sterling, Kentucky. Here are the details on this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION SBA Loan Lender TRADITIONAL BANK, INC. This 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. SIC Code 1611 - Highway and Street Construction NAICS Code 234110 - Highway and Street Construction Loan Approval Date 5/6/2003 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 a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, you control your own destiny. 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: SBA Banks in Mount Sterling, Kentucky
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