Kentucky Entrepreneur Secures Financing to Buy Play N Trade Franchise

Need a loan to buy a Play N Trade franchise? Community Trust Bank, Inc. has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Richmond, Kentucky needed money to invest in a Play N Trade franchise back in 2006. Community Trust Bank, Inc. issued an SBA franchise loan. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

PLAY N TRADE
RICHMOND, KY 40475

SBA Loan Lender

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

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

8/10/2006

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Play N Trade franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Richmond KY, you ought to talk with a local Richmond SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Richmond businesses.

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 $75,000 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:

Play 'N Trade

Microlending as a Small Business Funding Source

SBA Approved Banks in Pikeville, Kentucky

Where to Get an SBA Loan Kentucky