Lexington, Kentucky Entrepreneur Gets a Bank Loan

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

Getting a small business loan in Lexington, Kentucky was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Traditional Bank, Inc.. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
LEXINGTON, KY 40515

SBA Loan Lender

TRADITIONAL BANK, INC.
49 W MAIN ST
MOUNT STERLING, KY 40353

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/15/2002

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 17 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Lexington KY, you ought to talk with a local Lexington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lexington businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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