Small Business Financing Madisonville KY

Looking for Small Business Financing in Madisonville? We have compiled a list of businesses and services around Madisonville that should help you with your search. We hope this page helps you find Small Business Financing in Madisonville.

David A Thomas, CFP®
(270) 821-2044
17 South Main St.
Madisonville, KY
Firm
Ameriprise Financial
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Insurance Planning, Investment Management, Retirement Planning, Tax Planning

Data Provided By:
Mr. Timothy W. Dunn, CFP®
(270) 824-1601
162 North Main St
Madisonville, KY
Firm
First United Bank and Trust Company
Areas of Specialization
Accounting, Asset Allocation, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Investment Management, Investment Planning, Retirement Income Management

Data Provided By:
US Bank - Madisonville East Center Street Office
(270) 824-3071
665 E Center St
Madisonville, KY
Drive Up Hours
Mon 08:30 am to 04:00 pm
Tue 08:30 am to 04:00 pm
Wed 08:30 am to 04:00 pm
Thur 08:30 am to 04:00 pm
Fri 08:30 am to 06:00 pm
Sat 08:30 am to 12:00 pm

Fifth Third Bank
(270) 824-4480
Madisonville North Side, 1389 Whittington Dr.
Madisonville, KY
Office Hours
M-TH 9-4; F 9-5; SA 9-12
Drive Up Hours
M-TH 9-4; F 9-6; SA 9-12

US Bank - Mortons Gap Office
(270) 824-3072
108 S Main St
Mortons Gap, KY
Drive Up Hours
Mon 09:00 am to 04:00 pm
Tue 09:00 am to 04:00 pm
Wed 09:00 am to 04:00 pm
Thur 09:00 am to 04:00 pm
Fri 09:00 am to 06:00 pm

Mr. William H Young, CFP®
(270) 821-5410
1470 Chelsa Drive
Madisonville, KY
Firm
Edward Jones
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $100,001 - $250,000

Profession: Service Professionals

Data Provided By:
Mr. Lloyd E. Painter, CFP®
(270) 338-6263
112 Mill St
Greenville, KY
Firm
PainterFinancial

Data Provided By:
US Bank - Madisonville Martin Mall Office
(270) 824-3073
15 Chelsa Dr
Madisonville, KY
Drive Up Hours
Mon 09:00 am to 04:00 pm
Tue 09:00 am to 04:00 pm
Wed 09:00 am to 04:00 pm
Thur 09:00 am to 04:00 pm
Fri 09:00 am to 06:00 pm
Sat 09:00 am to 12:00 pm

US Bank - Madisonville Main Street Office
(270) 821-6075
1 S Main St
Madisonville, KY
Drive Up Hours
Mon 09:00 am to 04:00 pm
Tue 09:00 am to 04:00 pm
Wed 09:00 am to 04:00 pm
Thur 09:00 am to 04:00 pm
Fri 09:00 am to 06:00 pm

US Bank - Hanson Office
(270) 824-3075
7250 Hanson Rd
Hanson, KY
Drive Up Hours
Mon 09:00 am to 04:00 pm
Tue 09:00 am to 04:00 pm
Wed 09:00 am to 04:00 pm
Thur 09:00 am to 04:00 pm
Fri 09:00 am to 06:00 pm

Data Provided By:

Business Financing From The SBA / Small Business Administration

The Small Business Administration is the most useful resource available to startups and established small businesses. An Independent agency of the Executive branch of the Federal Government, the SBA has the responsibility of providing assistance to American small businesses in the areas of advocacy, management, procurement, and financial assistance. The SBA financing comes in the forms of investment programs, business loan programs, disaster loan programs, and bonding for contractors. In most cases, the SBA should be the first business financing resource a small business owner looks to for their financing needs.

The SBA has three different loan programs for small business financing . It is important to know that while the SBA has these programs, they do not actually provide the business financing . The SBA sets the guidelines for these loans, then their partners, which include lenders, community development organizations, and microlending institutions, actually make the loan to small businesses . The SBA guarantees the loans, to reduce the risk to the lenders.

The first type of business loan that the SBA offers is the Basic 7(a) Loan Guaranty. When a small business is unable to obtain financing from other sources, this is the primary business loan program offered. This is the SBA's most flexible business financing program, and it is ideal for start up business financing as well as established business financing . This type of new business financing can be used for most business purposes, such as working capital, equipment, office furnishings, land and building, leases, and even debt refinancing. The maturity date of the loan varies, depending on what the loan is used for. For working capital, the loan maturity is up to 10 years, while it is generally up to 25 years for fixed assets.

There are several different variations of the Basic 7(a) loan program, designed to fill specific needs. This type of loan is the closest a small business owner can get to free business financing, because any fees that the SBA has for administration are charged to the lender. However, the lender does have the right to make those fees a part of your loan, which means that you may ultimately pay those fees.

The second type of loan that the SBA offers is the Microloan. This is known as the 7(m) loan program. These are short-term loans of up to $35,000, and are primarily for small businesses and non-profit child care centers. They are meant to provide working capital, inventory purchases, supplies, furnishings, and equipment. They may not be used to pay existing debts or to purchase real estate. This type of business financing is great for business owners who wish to expand.

The third type of small business financing available through the SBA is a Certified Development Company (CDC) loan. Known as the 504 loan program, these loans should only be sought by businesses that require brick and mortar financing . These are long-term...

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