Raising Money for Nondepository Credit Intermediation

Looking for business loans for nondepository credit intermediation? The SBA may be the answer. This $45,000 nondepository credit intermediation loan was issued by a Kentucky bank.

This business knew how to go about getting a business bank loan. Based in Owingsville, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was The Citizens Bank, based in Morehead, Kentucky.

SBA Loan Borrower

COMPANY TYPE: NONDEPOSITORY CREDIT INTERMEDIATION
OWINGSVILLE, KY 40360

SBA Loan Lender

THE CITIZENS BANK
114 W MAIN ST
MOREHEAD, KY 40351

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

522298 - Nondepository Credit Intermediation

Loan Approval Date

1/29/2007

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $36,000.

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 2 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

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

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Citizens Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Citizens Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Direct Public Offerings

Small Business Banks in Morehead, Kentucky

SBA Participating Banks in Kentucky