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May 17, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Bowling Green, Business Loans > Amer Bank & Trust Inc. Bowling Green Business Loans > Water Well Drilling Loan | ||||
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Bowling Green, Kentucky Bank Loan
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Water Well Drilling Contractors Business LoansLooking for business loans for water well drilling contractors? Talk to a banker who works with the SBA. This $168,000 water well drilling contractors loan was issued by a Kentucky bank. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Amer Bank & Trust Inc., out of Bowling Green, Kentucky. The loan was granted and they received $168,000 to help grow their Bowling Green, Kentucky business. SBA Loan Borrower COMPANY TYPE: WATER WELL DRILLING SBA Loan Lender AMER BANK & TRUST INC. This lender issued this SBA 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. SIC Code 1781 - Water Well Drilling NAICS Code 235810 - Water Well Drilling Contractors Loan Approval Date 12/10/2002 Loan Approval Gross Amount $168,000 Loan Approval from the SBA Of the total $168,000 loan amount, the SBA guaranteed $126,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Accountant's Role in Securing Financing Who Lends Money to Small Businesses in Bowling Green, Kentucky
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