Planters Bank Inc
Planters Bank Inc is an active SBA lender in Kentucky, a bank offering SBA-guaranteed small-business loans. Currently rated 3.8 stars across 21 Google reviews.
$8M
in SBA approvals since 2010
36
SBA loans funded
Transportation & Trucking · Restaurants & Food Service · Automotive Repair & Services
Top industries financed
Source: U.S. SBA 7(a) & 504 FOIA loan-approval records (FY2010–present).
About Planters Bank Inc
Planters Bank Inc offers comprehensive SBA lending solutions tailored to small and medium-sized businesses seeking financial support for growth, expansion, or operational needs. With a focus on serving the local community, the bank provides expertise in SBA 7(a) loans, which are ideal for a variety of business purposes including working capital, equipment purchase, and real estate acquisition. Their experienced team guides clients through the application process, ensuring a smooth experience from start to finish. The bank's lending services are designed to accommodate businesses at different stages, from startups to established enterprises, emphasizing personalized service and flexible financing options. With a strong record of approving large loans, such as amounts up to $3,450,000, Planters Bank Inc is a reliable partner for business owners looking for substantial funding solutions. Their commitment to supporting local economic development makes them a preferred choice for entrepreneurs in the Hopkinsville area and beyond.
Serves SBA borrowers in 2 states
Planters Bank Inc has funded SBA loans for businesses in these states, by borrower location. Tap a state to see every lender serving it.
Common questions about Planters Bank Inc
What is this place and what can I find here?
This is a commercial bank offering SBA loan programs and business financing solutions designed to help small and medium-sized businesses grow and succeed.
Do I need an appointment or can I walk in?
It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-ins are also accommodated during business hours.
What are the hours of operation?
The bank operates from 9:00 AM to 5:00 PM, Monday through Friday.
Is there a fee to use this?
Yes, there may be application fees, guarantee fees, and closing costs associated with SBA loans.
Who is this open to — anyone, or only residents/members?
This bank primarily serves local residents and businesses in the region but offers services to qualified applicants nationwide for SBA loans.
What minimum personal credit score does this bank look for in a guarantor?
A minimum personal credit score of around 650 is generally preferred for loan qualification.
How long does the traditional underwriting process take from start to close?
The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.
Is this open on weekends?
Most banks keep weekday business hours and are closed on weekends, and Planters Bank Inc typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Planters Bank Inc to confirm current weekend availability before you go.
How do I get there and where do I park?
Planters Bank Inc is located in Kentucky — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.
Who owns or operates this listing?
This page is an independent directory listing for Planters Bank Inc, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Planters Bank Inc itself, which runs its own lending under its own ownership. If you work at Planters Bank Inc, you can claim this listing from this page to manage it.
How current is the information on this page?
The core details for Planters Bank Inc — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Planters Bank Inc before applying. If you represent Planters Bank Inc, claim this listing to keep its information up to date.
How do I contact this listing directly?
You can reach Planters Bank Inc by phone at (270) 886-9030 or online at plantersbankonline.com — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Planters Bank Inc before relying on them.
What core industries does this commercial bank traditionally choose to finance?
Like most SBA lenders, Planters Bank Inc can finance a broad range of small businesses — common categories include professional services, healthcare practices, restaurants and franchises, retail, light manufacturing, and commercial real estate. Each bank sets its own industry preferences and may avoid sectors it considers higher risk. Ask Planters Bank Inc directly which industries it actively lends to before you apply.
Can I apply for an SBA Express line of credit at this branch?
SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Planters Bank Inc participates in SBA Express depends on its specific SBA lending authority. Contact Planters Bank Inc and ask if it offers SBA Express and what the current limits and terms look like for your situation.
Does this bank have Preferred Lender Provider status with the government?
SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Planters Bank Inc can confirm its current PLP standing — ask before you apply if speed matters to you.
Are start-up companies eligible for financing at this traditional institution?
The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Planters Bank Inc's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Planters Bank Inc directly whether it considers start-up loans.
What are the typical down payment expectations for commercial real estate acquisitions?
For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Planters Bank Inc what down payment it expects for your specific commercial real estate purchase.
Does this bank impose prepayment penalties on short-term working capital facilities?
SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Planters Bank Inc to spell out any prepayment penalties before you sign.
Can I use loan proceeds from this bank to buy out an existing equity partner?
SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Planters Bank Inc to confirm it qualifies and how to document it.
Will historical personal bankruptcies automatically disqualify my loan application here?
A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Planters Bank Inc weighs this case by case under its own policy, so be upfront about your history and ask Planters Bank Inc how it evaluates prior bankruptcies.
