Bardstown, Kentucky Entrepreneur Gets a Bank Loan

Looking to get a Kentucky bank loan? This Kentucky entrepreneur got a bank loan, provided by a Kentucky bank that works with the SBA to help small business owners.

Getting a small business loan in Bardstown, Kentucky was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Fed. Savings Bank - Elizab. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD FURNITURE
BARDSTOWN, KY 40004

SBA Loan Lender

FIRST FED. SAVINGS BANK - ELIZAB
475 W LINCOLN TRAIN BLVD
RADCLIFF, KY 40160

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2519 - Household Furniture

NAICS Code

337125 - Household Furniture Manufacturing

Loan Approval Date

8/27/2002

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

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 37 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 First Fed. Savings Bank - Elizab 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.

Related Links:

Debt Financing

SBA 7A Banks in Radcliff, Kentucky

Kentucky SBA 7A Banks