Regions Bank Gives SBA Loan to Carwashes Company

Small business loans in Kentucky are are few and far betweeen these days. We take a look at one Kentucky small business loan, provided by a Kentucky bank, that was approved by the SBA.

Getting a small business loan in Murray, Kentucky was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Regions Bank. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
MURRAY, KY 42071

SBA Loan Lender

REGIONS BANK
101 S 4TH ST
MURRAY, KY 42071

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan 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.

SIC Code

7542 - Carwashes

NAICS Code

811192 - Car Washes

Loan Approval Date

7/13/2001

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Murray KY, you ought to talk with a local Murray SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Murray businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Advice on Getting a Small Business Loan

Small Bank Loans in Murray, Kentucky

Kentucky SBA 7A Lenders