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December 21, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Glasgow, Business Loans > South Cent. Bank - Barren County Glasgow Business Loans > Nursery And Garden Centers Loan | ||||
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Kentucky SBA Banks
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Glasgow, Kentucky Lender Lends Money to Nursery And Garden Centers CompanyGet to know Glasgow, Kentucky banks that specialize in small business loans and know how to work with entrepreneurs. South Cent. Bank - Barren County is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Munfordville, Kentucky starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from South Cent. Bank - Barren County. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: NURSERY AND GARDEN CENTERS SBA Loan Lender SOUTH CENT. BANK - BARREN COUNTY This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 444220 - Nursery and Garden Centers Loan Approval Date 6/8/2004 Loan Approval Gross Amount $107,000 Loan Approval from the SBA Of the total $107,000 loan amount, the SBA guaranteed $80,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start business in Munfordville KY, you ought to talk with a local Munfordville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Munfordville businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Where to Get an SBA Loan in Glasgow, Kentucky
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