Entrepreneur Works With Pikeville, Kentucky Bank to Get an SBA Loan

Thinking about meeting with a Pikeville, Kentucky bank about an SBA loan? Here's one Kentucky business loan, issued by a Pikeville bank, that was approved by the SBA.

Applying for an SBA loan with Community Trust Bank, Inc. worked out well for our friends at one local company in Versailles, Kentucky. They received an SBA loan for $75,000. Nice!

SBA Loan Borrower

COMPANY TYPE: VOCATIONAL REHABILITATION SERVICES
VERSAILLES, KY 40383

SBA Loan Lender

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

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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

624310 - Vocational Rehabilitation Services

Loan Approval Date

10/18/2007

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 37 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Community Trust Bank, Inc. and they will explain how you can get an SBA loan for your company.

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:

Role of Business Plan When Raising Money

SBA Banks in Pikeville, Kentucky

Where to Get an SBA Loan Kentucky