Business Loan from The Citizens Bank Given to Animal Aquaculture Company

An SBA loan from The Citizens Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Farmington, Kentucky business owner got a $952,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Farmington, Kentucky, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was The Citizens Bank, based in Hickman, Kentucky.

SBA Loan Borrower

COMPANY TYPE: ANIMAL AQUACULTURE
FARMINGTON, KY 42040

SBA Loan Lender

THE CITIZENS BANK
1522 UNION CITY HWY
HICKMAN, KY 42050

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0273 - Animal Aquaculture

NAICS Code

112511 - Finfish Farming and Fish Hatcheries

Loan Approval Date

10/29/2003

Loan Approval Gross Amount

$952,000

Loan Approval from the SBA

Of the total $952,000 loan amount, the SBA guaranteed $714,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 41 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new 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.

We can help you find the best banks for small businesses in Farmington or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Financing Your Business

SBA 7A Banks for Hickman, Kentucky Loans

SBA Lenders in Kentucky