Growing Company Gets a Kentucky Bank Loan

Would a Kentucky bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Kentucky bank, which offers SBA loans to Kentucky entrepreneurs.

Getting a small business loan in Paris, Kentucky was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Traditional Bank, Inc.. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: PHARMACEUTICAL PREPARATION MANUFACTURING
PARIS, KY 40361

SBA Loan Lender

TRADITIONAL BANK, INC.
49 W MAIN ST
MOUNT STERLING, KY 40353

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325412 - Pharmaceutical Preparation Manufacturing

Loan Approval Date

9/26/2006

Loan Approval Gross Amount

$176,900

Loan Approval from the SBA

Of the total $176,900 loan amount, the SBA guaranteed $132,675.

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 5 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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 $176,900 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

SBA 7A Banks for Mount Sterling, Kentucky Loans

SBA Kentucky Lenders