Lexington is a city located in the Commonwealth of Kentucky. As of 2019, the population of Lexington was 321,959, making it the 60th-largest city in the United States. The Lexington metropolitan area has a population of 723,849, making it the nation's 65th-largest metropolitan area. Lexington is the county seat of Fayette County.
Lexington is a thriving city with a strong economy. The city's economy is anchored by the healthcare, manufacturing, and technology industries. Lexington is home to several large healthcare facilities, including the University of Kentucky Chandler Hospital and Central Baptist Hospital. The city is also home to several major manufacturing companies, including GE Appliances and Toyota Motor Manufacturing Kentucky. In recent years, Lexington's economy has been bolstered by the growth of the city's tech sector. The city is home to several major tech companies, including Lexmark and IBM.
Lexington is a great place to start and grow a business. The city's strong economy and diverse industries provide a solid foundation for businesses of all types. The city's central location and transportation infrastructure make it easy to connect with customers and suppliers. Lexington also offers a variety of resources and support for businesses, including the Lexington Chamber of Commerce and the Lexington Economic Development Corporation.
Comparing SBA loan types in Lexington
Three SBA programs come up most often for Lexington, Kentucky businesses, and they do different jobs.
SBA 7(a) loan: program overview
Maximum loan
$5 million (sba.gov, fetched 2026-07-24)
What it funds
Working capital, equipment, owner-occupied commercial real estate, refinancing business debt, and business acquisition.
Who lends
Participating banks and non-bank lenders. The SBA guarantees a portion of the loan; it does not lend directly to borrowers.
Rate structure
Negotiated between lender and borrower, capped at the SBA maximum. Most 7(a) loans price off the WSJ prime rate plus a spread.
Personal guaranty
Required from every owner of 20% or more of the business (13 CFR 120.160(a)).
Program facts confirmed against sba.gov/funding-programs/loans/7a-loans on Jul 24, 2026. Confirm current fees and maximum rates with your lender before relying on them.
SBA 504 loan: program overview
Maximum loan
$5.5 million per the SBA-backed debenture (sba.gov, fetched 2026-07-24). Total project size can be larger because a bank funds the first mortgage alongside it.
What it funds
Major fixed assets: owner-occupied commercial real estate and long-life machinery and equipment. Not working capital or inventory.
Structure
A conventional first-mortgage lender, a Certified Development Company holding the SBA-backed second, and a borrower down payment.
Rate
The CDC portion is fixed for the full term and set at the monthly debenture sale.
Program facts confirmed against sba.gov/funding-programs/loans/504-loans on Jul 24, 2026.
SBA Express: program overview
What it is
A delivery method inside the 7(a) program. The lender uses its own forms and procedures and gets an accelerated SBA response, in exchange for a lower SBA guarantee percentage than Standard 7(a).
What it funds
The same uses as 7(a), including revolving lines of credit, which Standard 7(a) term loans do not offer.
Trade-off
Faster turnaround and lighter paperwork, against a smaller guaranteed portion, which some lenders price for.
Current SBA Express maximum loan size and guarantee percentage are set by SBA notice and change. Confirm them on sba.gov or with your lender; this site does not publish an unverified figure.
Small business loans available in Lexington
An SBA 7(a) loan made to a Lexington, Kentucky business is made by a participating lender, not by the SBA.
The lender underwrites it, sets the rate within the SBA maximum, and services it. What varies locally is
which lenders are active, not the program rules.