Kentucky Entrepreneur Secures Financing to Buy Kopy Kat Franchise
Need money to buy a Kopy Kat franchise? American Founders Bank, Inc. has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Georgetown, Kentucky needed money to invest in a Kopy Kat franchise back in 2006. American Founders Bank, Inc. issued an SBA franchise loan. Here are the details on this Kentucky small business loan.
SBA Loan Borrower
KOPY KAT/AB DICK INC
GEORGETOWN, KY 40324
SBA Loan Lender
AMERICAN FOUNDERS BANK, INC.
1734 MIDLAND TRL
SHELBYVILLE, KY 40065
This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
561439 - Business Service Centers
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $350,000 loan amount, the SBA guaranteed $175,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Kopy Kat franchise. At the time of the loan, the company
had 15 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.
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.
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 American Founders Bank, Inc. 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.
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