Kentucky SBA Loan Issued to Legal Services Company

KentuckySmall business loans are available to Kentucky small business owners through the SBA. In this case, a Kentucky bank provides the loan.

This small business, based in Radcliff, 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 Bank Of The Mountains. We've got the inside scoop on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: LEGAL SERVICES
RADCLIFF, KY 40160

SBA Loan Lender

BANK OF THE MOUNTAINS
MAIN & COURT ST
WEST LIBERTY, KY 41472

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8111 - Legal Services

NAICS Code

541110 - Lawyers

Loan Approval Date

8/29/2003

Loan Approval Gross Amount

$36,333

Loan Approval from the SBA

Of the total $36,333 loan amount, the SBA guaranteed $30,883.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

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SBA 7A Banks for West Liberty, Kentucky Loans

SBA Lenders in Kentucky