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May 4, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Louisville, Business Loans > Commonwealth Bank & Trust Louisville Business Loans > Sporting Goods Stores Loan | ||||
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Examples of Louisville SBA Loans
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Sporting Goods Stores Bank LoansLooking for bank loans for sporting goods stores? The SBA may be the answer. This $155,000 sporting goods stores loan was issued by a Kentucky bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Louisville, Kentucky was able to borrow $155,000 from Commonwealth Bank & Trust. The SBA made the loan possible by guaranteeing $131,750 of this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES SBA Loan Lender COMMONWEALTH BANK & TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 12/22/2006 Loan Approval Gross Amount $155,000 Loan Approval from the SBA Of the total $155,000 loan amount, the SBA guaranteed $131,750. 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 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new 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. 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 Commonwealth Bank & Trust 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: SBA 7A Banks in Louisville, Kentucky
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