Borrow Money to Buy a Ford Motor dealers Franchise

Need a loan to invest in a Ford Motor dealers franchise? Community Trust Bank, Inc. has a history of making these loans and they are guaranteed by the SBA.

Ford Motor dealers franchise loans are available to Williamsburg, Kentucky entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Community Trust Bank, Inc., based in Pikeville, Kentucky, issued an SBA franchise loan for a Ford Motor dealers franchise in 2004. We've got all the details on this Kentucky small business loan.

SBA Loan Borrower

PAUL STEELY FORD, INC.
WILLIAMSBURG, KY 40769

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 debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441110 - New Car Dealers

Loan Approval Date

1/5/2004

Loan Approval Gross Amount

$524,000

Loan Approval from the SBA

Of the total $524,000 loan amount, the SBA guaranteed $393,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Ford Motor dealers franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

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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Small Bank Loans in Pikeville, Kentucky

SBA Participating Banks in Kentucky