Business Loan from Community Trust Bank, Inc. Given to Storage Battery Manufacturing Company

An SBA loan from Community Trust Bank, Inc. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Russell Springs, Kentucky business owner got a $2,000,000 loan.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Community Trust Bank, Inc., out of Campbellsville, Kentucky. The loan was granted and they received $2,000,000 to help grow their Russell Springs, Kentucky business.

SBA Loan Borrower

COMPANY TYPE: STORAGE BATTERY MANUFACTURING
RUSSELL SPRINGS, KY 42642

SBA Loan Lender

COMMUNITY TRUST BANK, INC.
1218 E BROADWAY
CAMPBELLSVILLE, KY 42719

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

335911 - Storage Battery Manufacturing

Loan Approval Date

6/28/2004

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 156 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Trust Bank, Inc. and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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