Getting an SBA Loan for Support Activities for Animal Production

With these SBA loans for support activities for animal production, the SBA guarantees the lender that the loan will be repaid. This support activities for animal production loan for $805,500 was given to a Kentucky entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Owensboro, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Branch Bank & Trust, based in Owensboro, Kentucky.

SBA Loan Borrower

COMPANY TYPE: ANIMAL SPECIALTY SERVICES
OWENSBORO, KY 42301

SBA Loan Lender

BRANCH BANK & TRUST
230 FREDERICA ST
OWENSBORO, KY 42301

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.

SIC Code

0752 - Animal Specialty Services

NAICS Code

115210 - Support Activities for Animal Production

Loan Approval Date

1/3/2002

Loan Approval Gross Amount

$805,500

Loan Approval from the SBA

Of the total $805,500 loan amount, the SBA guaranteed $604,125.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Owensboro 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.

Related Links:

Determining Proper Capital Structure for a Business

SBA Approved Banks in Owensboro, Kentucky

Kentucky SBA 7A Lenders