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May 17, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Mount Sterling, Business Loans > Traditional Bank, Inc. Mount Sterling Business Loans > Tour Operators Loan | ||||
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Business Loan from Traditional Bank, Inc.
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SBA Loan from Traditional Bank, Inc. Helps Tour Operators CompanyTraditional Bank, Inc. has a track record as a leading provider of SBA loans. Find out how this Kentucky entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Morehead, Kentucky, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Traditional Bank, Inc., based in Mount Sterling, Kentucky. SBA Loan Borrower COMPANY TYPE: TOUR OPERATORS SBA Loan Lender TRADITIONAL BANK, INC. The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 4725 - Tour Operators NAICS Code 561520 - Tour Operators Loan Approval Date 2/4/2000 Loan Approval Gross Amount $96,200 Loan Approval from the SBA Of the total $96,200 loan amount, the SBA guaranteed $48,100. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 Banks in Mount Sterling, Kentucky
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