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May 14, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Nicholasville, Business Loans > Kentucky Bank Nicholasville Business Loans > Book Stores Loan | ||||
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Tips for Small Business Owners On Getting a Loan
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Book Stores LoansLooking for loans for book stores? The SBA may be the answer. This $50,000 book stores loan was issued by a Kentucky bank. This small firm knew how to go about getting a business bank loan. Based in Wilmore, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Kentucky Bank, based in Nicholasville, Kentucky. SBA Loan Borrower COMPANY TYPE: BOOK STORES SBA Loan Lender KENTUCKY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5942 - Book Stores NAICS Code 451211 - Book Stores Loan Approval Date 5/13/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. While you may be able to borrow money from friends and family, 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: Dealing With Venture Capitalists Best Banks in Nicholasville, Kentucky
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