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May 3, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Louisville, Business Loans > Stock Yards Bank & Trust Louisville Business Loans > Eating Places Loan | ||||
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Kentucky Small Business SBA Loans
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Firm Gets a Kentucky Bank LoanWould a Kentucky small business loan help your small business to grow and prosper? If so, you may want to talk with this Kentucky bank, which offers SBA loans to Kentucky entrepreneurs. Getting a small business loan in Louisville, Kentucky was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Stock Yards Bank & Trust. Here are the details on this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender STOCK YARDS BANK & TRUST At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program is designed to offer speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. 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 5/23/2003 Loan Approval Gross Amount $226,800 Loan Approval from the SBA Of the total $226,800 loan amount, the SBA guaranteed $170,100. More Information on This SBA Loan The borrower borrowed this money for an existing 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 5 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: SBA Participating Banks in Louisville, Kentucky
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