Paducah, Kentucky Bank Gives SBA Loan to Beauty Salons Company

Thinking about meeting with a Paducah, Kentucky bank about an SBA loan? Here's one Kentucky business loan, issued by a Paducah bank, that was approved by the SBA.

Applying for an SBA loan with Paducah Bank & Trust worked out well for our friends at one local company in Paducah, Kentucky. The business was able to get an SBA loan for $12,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
PADUCAH, KY 42001

SBA Loan Lender

PADUCAH BANK & TRUST
555 JEFFERSON ST
PADUCAH, KY 42001

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

812112 - Beauty Salons

Loan Approval Date

3/18/2005

Loan Approval Gross Amount

$12,000

Loan Approval from the SBA

Of the total $12,000 loan amount, the SBA guaranteed $10,200.

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 only one employee. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

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

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Paducah Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Paducah Bank & Trust 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:

Determining Proper Capital Structure for a Business

Small Business Banks in Paducah, Kentucky

SBA Lenders in Kentucky