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May 10, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Lebanon, Business Loans > Farmers National Bank Lebanon Business Loans > Prepackaged Software Loan | ||||
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How to Get SBA Loans from Farmers National Bank
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SBA Loan from Farmers National Bank Helps Prepackaged Software CompanyFarmers National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Kentucky entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Lebanon, Kentucky was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Farmers National Bank, operating out of Lebanon, Kentucky. Here are the details on this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: PREPACKAGED SOFTWARE SBA Loan Lender FARMERS NATIONAL BANK This lender issued this particular commercial 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 7372 - Prepackaged Software Loan Approval Date 9/20/2000 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $86,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Farmers National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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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