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November 15, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Winchester, Business Loans > Kentucky Bank Winchester Business Loans > Local Trucking With Storage Loan | ||||
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Winchester, Kentucky Bank Loan
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Winchester, Kentucky Entrepreneur Gets an SBA LoanKentuckySBA loans are available to Kentucky entrepreneurs through the SBA. In this case, a Kentucky bank provides the loan. This business, based in Winchester, 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 Kentucky Bank. We've got the inside scoop on this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: LOCAL TRUCKING WITH STORAGE SBA Loan Lender KENTUCKY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4214 - Local Trucking With Storage NAICS Code 484110 - General Freight Trucking, Local Loan Approval Date 1/16/2003 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: Role of Business Plan When Raising Money SBA 7A Banks for Winchester, Kentucky Loans
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