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November 15, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Paducah, Business Loans > Paducah Bank & Trust Paducah Business Loans > Engineering Services Loan | ||||
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Get SBA Loans from Paducah Bank & Trust
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Paducah Bank & Trust SBA Loan to Engineering Services CompanyPaducah Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Kentucky entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Paducah, Kentucky, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Paducah Bank & Trust, based in Paducah, Kentucky. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender PADUCAH BANK & TRUST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 541330 - Engineering Services Loan Approval Date 10/5/2004 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $87,500. 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 indicated that the loan would help generate 1 new job and retain 7 existing jobs. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $175,000 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. Related Links: Realistic Debt Financing Options Best Banks in Paducah, Kentucky
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