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April 28, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Louisville, Business Loans > Forcht Bank Louisville Business Loans > Special Trade Contractors Loan | ||||
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How to Get a Small Business Loan from Forcht Bank
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Louisville, Kentucky Business Gets SBA-Guaranteed Funding from Forcht BankForcht Bank has a track record as a leading provider of SBA loans. Find out how this Kentucky entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Louisville, Kentucky was able to borrow $50,000 from Forcht Bank. The SBA made the loan possible by guaranteeing $40,000 of this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender FORCHT 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 1799 - Special Trade Contractors NAICS Code 235210 - Painting and Wall Covering Loan Approval Date 10/11/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to find business people willing to loan money, 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: Realistic Debt Financing Options Find an SBA Lender in Louisville, Kentucky
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