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Kentucky Small Business Loans

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By Erin Ryan Social Community Manager and Senior Writer at Fast Capital 360 Reviewed By Mike Lucas
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Loan Overview

  • Coins stacked on table with blue arrow pointing up
    Loan Amount Up to $500,000
  • Calendar image appearing as though the page is being flipped
    Estimated Repayment Terms 1-5 Years
  • Speedometer icon
    Interest Rate Starting at 7%
  • Dollar sign in circle
    Speed of Funding As fast as 1 day

Whether you’re seeking a short-term increase in working capital, need to buy a new piece of equipment or want to make a business investment, the right financing can help. 

Here are a few top lenders for Kentucky small business loans as well as organizations offering resources for small business owners.


Kentucky’s Small Business Landscape

Kentucky is home to nearly 356,000 small businesses, which employ more than 712,000 workers, according to the Small Business Administration (SBA). 

The top 5 small business industries employing the most workers include these:

  • Food and accommodation services
  • Health care and social assistance
  • Retail
  • Manufacturing
  • Construction

5 Banks for Kentucky Business Loans

1. Bank of the Bluegrass & Trust Co. 

If you’re in search of an SBA lender in Kentucky, check out this bank. Not only is it accredited by the Better Business Bureau (BBB), it’s earned the organization’s A+ rating. Additionally, this bank has been awarded a 5-star rating on WalletHub. 

Head to 1 of 3 branches in Lexington, where you’ll find the following financing options:

  • Business credit cards
  • Business line of credit
  • Commercial business loans
  • Commercial real estate loans

2. Town & Country Bank and Trust Co. 

This bank was founded in 1907. It’s accredited and A+ rated with the BBB. It’s also earned a 4.9-star rating on WalletHub. Find small business and commercial loans here as well as business credit cards.

3. FirstBank

Business loans in Kentucky also are available at this financial institution, which made WalletHub’s 2021’s Best Bank in Kentucky list. It’s also earned a 4.7-star rating on the site in addition to having an A+ rating with the BBB. 

Financing options include the following:

  • Accounts receivable loans
  • Commercial real estate loans
  • Debt consolidation loans
  • Equipment financing
  • Facility construction/expansion loans
  • Inventory financing
  • Letters of credit
  • Lines of credit
  • Working capital loans

4. United Citizens Bank of Southern Kentucky 

More than 100 WalletHub reviewers have given this bank a 5-star rating. It’s earned a 5-star Google rating, too. 

Available Kentucky small business loans include the following: 

  • Agricultural loans
  • Equipment and auto loans
  • Business lines of credit
  • Construction loans
  • Commercial real estate loans

5. Bank of Columbia

Bank of Columbia is another SBA lender in Kentucky. It’s been in operation since 1866 and today has an A+ rating with the BBB as well as a 4.9-star WalletHub rating. 

In addition to SBA loans, you’ll find the following business financing options here:

  • Agriculture loans
  • Working capital loans
  • Community investment loans
  • Commercial real estate loans

Alternative Financing Options in Kentucky

While you could turn to banks when you’re searching for a business loan, they aren’t the only lenders these days. Additionally, their requirements to qualify can be challenging to meet and the process to get funded can take time. 

That’s why many entrepreneurs today are turning to alternative lenders for their financing needs. Applications are easy to complete and funds can be dispersed, in some cases, within a day of approval. 

Examples of funding solutions offered by these types of lenders include merchant cash advances and short-term loans, which typically have more frequent payment installments and higher interest rates. 

  • Applying for Business Funding in Kentucky Through Fast Capital 360

    Whether you’re seeking a Kentucky merchant cash advance or an SBA loan, we can help. 

    Benefit from the following:

    Speed

    We’re Fast Capital 360 for a reason. Not only is our online application quick and easy, but our lending partners could fund you as fast as 1 day of approval. 

    Multiple Offers

    Because we partner with lenders around the U.S., your single application could return several financing offers. Choose the best option for your business. 

    Expert Guidance

    Our Fast Capital 360 Business Advisors are on hand waiting to answer your questions and assist you through the funding process.

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Additional Resources for Entrepreneurs in Kentucky

Kentucky small business loans or grants can help you with the monetary side of things when it comes to running your business. But here are additional resources in the state for entrepreneurs.

SCORE 

This nationwide nonprofit has been helping small business owners along their entrepreneurial journey since the 1960s. The organization offers complimentary 1-on-1 business consulting as well as free or low-cost workshops. The online library also has many great resources, such as videos and articles on business topics and business document templates. 

There are branches in Louisville and Lexington as well as virtual mentoring locations.

Kentucky Small Business Development Center

Head to 1 of 17 locations throughout the state. Here, entrepreneurs can take part in training opportunities or individualized business mentoring. Assistance with market research, loan packaging and financial projections also is available.

Jewish Family & Career Services’ Navigate Enterprise Center

For more than 20 years, this organization has been offering assistance to entrepreneurs from underserved communities. Whether you’re starting a business or trying to grow an existing one, you can find the following help here:

  • Education 
  • Microlending 
  • Business marketing assistance
  • Business training and consulting

One application. Multiple loan offers.

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