Borrowing Money for Site Preparation Contractors

With these loans for site preparation contractors, the SBA guarantees the lender that the loan will be repaid. This site preparation contractors loan for $50,000 was given to a Kentucky entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Versailles, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Community Trust Bank, Inc., based in Pikeville, Kentucky.

SBA Loan Borrower

COMPANY TYPE: SITE PREPARATION CONTRACTORS
VERSAILLES, KY 40383

SBA Loan Lender

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

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 commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238910 - Site Preparation Contractors

Loan Approval Date

8/24/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 3 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to borrow money from friends and family, 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:

Business Incubators

Small Business Banks in Pikeville, Kentucky

SBA Participating Banks in Kentucky