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May 14, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Versailles, Business Loans > Citizens Comm. National Versailles Business Loans > General Automotive Repair Loan | ||||
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Citizens Comm. National
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Harrodsburg, Kentucky Business Gets SBA-Guaranteed Funding from Citizens Comm. NationalAn SBA loan from Citizens Comm. National typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Harrodsburg, Kentucky business owner got a $22,700 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Harrodsburg, Kentucky was able to borrow $22,700 from Citizens Comm. National. The SBA made the loan possible by guaranteeing $11,350 of this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender CITIZENS COMM. NATIONAL This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811111 - General Automotive Repair Loan Approval Date 6/28/2006 Loan Approval Gross Amount $22,700 Loan Approval from the SBA Of the total $22,700 loan amount, the SBA guaranteed $11,350. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the borrowed money would help create 3 new jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Citizens Comm. National 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: Advice on Getting a Small Business Loan Small Business Banks in Versailles, Kentucky
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