Williamsburg, Kentucky Business Gets SBA-Guaranteed Funding from Community Trust Bank, Inc.

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 Williamsburg, Kentucky business owner got a $50,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Williamsburg, Kentucky was able to borrow $50,000 from Community Trust Bank, Inc.. The SBA made the loan possible by guaranteeing $42,500 of this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS
WILLIAMSBURG, KY 40769

SBA Loan Lender

COMMUNITY TRUST BANK, INC.
201 N THIRD ST
WILLIAMSBURG, KY 40769

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

6/9/2003

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 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 2 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Community Trust Bank, Inc. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

How Much Venture Capital Is There?

Find an SBA Lender in Williamsburg, Kentucky

SBA Lenders in Kentucky