Mayfield, Kentucky Business Gets SBA-Guaranteed Funding from First Kentucky Bank, Inc.

An SBA loan from First Kentucky Bank, Inc. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mayfield, Kentucky business owner got a $40,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First Kentucky Bank, Inc., out of Mayfield, Kentucky. The loan was granted and they received $40,000 to help grow their Mayfield, Kentucky business.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
MAYFIELD, KY 42066

SBA Loan Lender

FIRST KENTUCKY BANK, INC.
223 S 6TH
MAYFIELD, KY 42066

This loan for a small business 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.

NAICS Code

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

5/31/2006

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 25 employees. The loan application indicated that the loan would help retain 25 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Kentucky Bank, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Kentucky Bank, Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Small Business Credit Cards

Small Business Banks in Mayfield, Kentucky

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