Prestonsburg, Kentucky Bank Lends Money to Sporting Goods Stores And Bicycle Shops Company in Prestonsburg, Kentucky

Get to know Prestonsburg, Kentucky banks that specialize in business loans and know how to work with entrepreneurs. Citizens National Bank - Paintsville is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Prestonsburg, Kentucky starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Citizens National Bank - Paintsville. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
PRESTONSBURG, KY 41653

SBA Loan Lender

CITIZENS NATIONAL BANK - PAINTSVILLE
50 FRANKLIN CORNER
PRESTONSBURG, KY 41653

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring 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

5941 - Sporting Goods Stores and Bicycle Shops

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

2/21/2001

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or already have a business and need money to expand, 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. Citizens National Bank - Paintsville had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens National Bank - Paintsville 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.

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