SBA Loans: All In The Family!


  Phelps Farm Store Plans To Stay In Bloom


 Hometown, personalized products and services have kept Phelps Farm Store relevant, despite the many cultural changes that have occurred during its long and illustrious history. Now add global pandemic to the array of ups and downs that this beautiful downtown business has weathered. Since 1956 this stalwart staple of farm and garden supplies has helped experienced farmers as well as backyard growers to enjoy the fruits (and vegetables) of their labors.

“We’ve been able to stay open since we are an agricultural company,” said Daniel Phelps, owner of Phelps Farm Store. “I almost felt guilty requesting these funds since our company, unlike so many others, has some reserves to fall back on thankfully, but with all these unknowns, I don’t know how long we could survive without support.”

Chase Venable walked Daniel through the process and counseled him that indeed, the uncertainty of the future was a valid reason to seek the SBA funds if possible. “It was a really easy process,” Daniel added. “Chase was great and we got through the process pretty quickly. And then we received the SBA money almost within a week or so. I was surprised at how straightforward the process was. As usual, Paducah Bank was there for us to help us along this difficult road. I’ve been with the bank for 20 years or more and they have always stepped up to help us anytime we needed them. They are just a wonderful asset in this community.”

River City Printing Has A New Story To Tell

Two years ago Susan Carr opened River City Printing. She has 30 years of experience in the printing business, but this was a new chapter in her life as a solitary business owner and entrepreneur. Then two years later, the COVID 19 pandemic struck and her new-found business was thrust into a plot-line that could potentially be told as a tragedy rather than a happily-ever-after. That’s where the SBA Paycheck Protection Program and Paducah Bank came to the rescue.

“We’re open but our work has been severely limited,” said Susan. “And we have to anticipate that the workload may be even more diminished in the upcoming months. So we wanted to try and offset that loss of revenue in order to keep working for our customers. This SBA loan gave us some breathing room and we are very grateful.”

Susan read about the PPP in the media and immediately called Leanne Adreon at Paducah Bank who connected her with Paducah Bank lending professional Ro Byrd. “I talked to Ro that very day and he sent me all the forms and the information that was required of us. We worked together to get the application complete and then within about seven days, we had the funds. It was amazing. It was very easy and efficient and we are so happy to have this assistance during such an unexpected turn of events.”

River City Printing looked to Paducah Bank two years ago when the company opened. “Paducah Bank helped me through all the steps in getting the business up and running. They have been just terrific to work with, and they could not be more responsive and helpful. Small businesses in this community certainly reap the benefit of having this exceptional bank working for us,” Susan commented.