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May 13, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Pikeville, Business Loans > Community Trust Bank, Inc. Pikeville Business Loans > Security Systems Services Loan | ||||
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KY Business Loan from Community Trust Bank, Inc.
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Community Trust Bank, Inc. SBA Loan to Security Systems Services CompanyCommunity Trust Bank, Inc. has a track record as a leading provider of SBA loans. Find out how this Kentucky entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Prestonsburg, Kentucky, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Community Trust Bank, Inc., based in Pikeville, Kentucky. SBA Loan Borrower COMPANY TYPE: SECURITY SYSTEMS SERVICES SBA Loan Lender COMMUNITY TRUST BANK, INC. This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7382 - Security Systems Services NAICS Code 561621 - Security Systems Services Loan Approval Date 1/31/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 18 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds 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. This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Banks for Small Business in Pikeville, Kentucky
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