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November 15, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Mount Sterling, Business Loans > Traditional Bank, Inc. Mount Sterling Business Loans > Motor Vehicle Supplies And New Parts Loan | ||||
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Raising Money in Stanton, Kentucky With SBA Loans
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Kentucky Bank Loan Issued to Motor Vehicle Supplies And New Parts CompanyKentuckyBank loans are available to Kentucky firms through the SBA. In this case, a Kentucky bank provides the loan. This company, based in Stanton, Kentucky, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Traditional Bank, Inc.. We've got the inside scoop on this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS SBA Loan Lender TRADITIONAL BANK, INC. The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5013 - Motor Vehicle Supplies and New Parts NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 5/7/2001 Loan Approval Gross Amount $180,000 Loan Approval from the SBA Of the total $180,000 loan amount, the SBA guaranteed $135,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Family and Friend Investors - Your First Financiers SBA Participating Banks in Mount Sterling, Kentucky
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