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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 > Retail Stores Loan | ||||
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Louisville SBA Loans
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Louisville, Kentucky Entrepreneur Gets an SBA LoanSearching for a Kentucky business loan? This Kentucky entrepreneur got a business loan, provided by a Kentucky bank that works with the SBA to help small business owners. This small business, based in Louisville, Kentucky, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Stock Yards Bank & Trust. We've got the inside scoop on this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender STOCK YARDS BANK & TRUST 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 5999 - Retail Stores NAICS Code 453998 - Store Retailers Loan Approval Date 7/27/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Best Banks in Louisville, Kentucky
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