Getting an SBA Loan for Farm Supplies Wholesalers

Looking for business loans for farm supplies wholesalers? An SBA loan may be just what you've been looking for. This $198,750 farm supplies wholesalers loan was issued by a Kentucky bank.

This business knew how to go about getting a business bank loan. Based in Mount Sterling, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Traditional Bank, Inc., based in Mount Sterling, Kentucky.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES
MOUNT STERLING, KY 40353

SBA Loan Lender

TRADITIONAL BANK, INC.
49 W MAIN ST
MOUNT STERLING, KY 40353

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5191 - Farm Supplies

NAICS Code

422910 - Farm Supplies Wholesalers

Loan Approval Date

5/1/2002

Loan Approval Gross Amount

$198,750

Loan Approval from the SBA

Of the total $198,750 loan amount, the SBA guaranteed $149,063.

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 3 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Mount Sterling KY, you ought to talk with a local Mount Sterling SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mount Sterling businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Traditional Bank, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Traditional 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:

Business Incubators

SBA 7A Banks for Mount Sterling, Kentucky Loans

Kentucky SBA 7A Banks