Republic Bank & Trust Company Gives Bank Loan to Tobacco Stores And Stands Company

Bank loans in Kentucky are tough to come by these days. We take a look at one Kentucky bank loan, provided by a Kentucky bank, that was approved by the SBA.

By giving the right information to Republic Bank & Trust Company, this Powderly, Kentucky business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: TOBACCO STORES AND STANDS
POWDERLY, KY 42367

SBA Loan Lender

REPUBLIC BANK & TRUST COMPANY
661 S HURSTBOURNE PKWY
LOUISVILLE, KY 40222

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5993 - Tobacco Stores and Stands

NAICS Code

453991 - Tobacco Stores

Loan Approval Date

2/20/2003

Loan Approval Gross Amount

$68,000

Loan Approval from the SBA

Of the total $68,000 loan amount, the SBA guaranteed $57,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Powderly KY, you ought to talk with a local Powderly SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Powderly businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Republic Bank & Trust Company and they will explain how you can get an SBA loan for your company.

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.

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