Raising Money for Commercial Bakeries

Looking for business loans for commercial bakeries? Talk to a banker who works with the SBA. This $90,000 commercial bakeries loan was issued by a Kentucky bank.

This small business knew how to go about getting a business bank loan. Based in Nicholasville, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Central Bank & Trust Co., based in Lexington, Kentucky.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL BAKERIES
NICHOLASVILLE, KY 40356

SBA Loan Lender

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

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311812 - Commercial Bakeries

Loan Approval Date

9/23/2004

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We can help you find the best banks for small businesses in Nicholasville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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