Kentucky Small Business Loan Issued to Business Support Services Company

Bank loans in Kentucky are tough to come by these days. We take a look at one Kentucky bank loan, provided by a Kentucky bank, that was approved by the SBA.

Getting a small business loan in Nicholasville, Kentucky was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Central Bank & Trust Co.. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SUPPORT SERVICES
NICHOLASVILLE, KY 40356

SBA Loan Lender

CENTRAL BANK & TRUST CO.
300 W VINE ST
LEXINGTON, KY 40507

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.

NAICS Code

561499 - Business Support Services

Loan Approval Date

3/2/2004

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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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