Local Business Gets a Kentucky Small Business Loan

Would a Kentucky business loan help your company expand? If so, you may want to talk with this Kentucky bank, which offers SBA loans to Kentucky entrepreneurs.

You can learn something about getting a small business loan in Raccoon, Kentucky by studying this loan to a local business, made back in 2000. Banks like Community Trust Bank, Inc. may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE RENTAL
RACCOON, KY 41557

SBA Loan Lender

COMMUNITY TRUST BANK, INC.
346 N MAYO TRL
PIKEVILLE, KY 41501

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7841 - Video Tape Rental

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

6/7/2000

Loan Approval Gross Amount

$22,900

Loan Approval from the SBA

Of the total $22,900 loan amount, the SBA guaranteed $18,320.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Raccoon KY, you ought to talk with a local Raccoon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Raccoon businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community Trust Bank, Inc. that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Incubators

Small Business Banks in Pikeville, Kentucky

Find an SBA Lender in Kentucky