South Carolina Bank & Trust Natl Gives SBA Loan to Beauty Shops Company

Searching for a South Carolina business loan? This South Carolina entrepreneur got a business loan, provided by a South Carolina bank that works with the SBA to help small business owners.

By giving the right information to South Carolina Bank & Trust Natl, this Beaufort, South Carolina business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
BEAUFORT, SC 29902

SBA Loan Lender

SOUTH CAROLINA BANK & TRUST NATL
950 JOHN C CALHOUN DR
ORANGEBURG, SC 29115

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

2/6/2001

Loan Approval Gross Amount

$41,672

Loan Approval from the SBA

Of the total $41,672 loan amount, the SBA guaranteed $35,421.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Raising Venture Capital

SBA Banks in Orangeburg, South Carolina

Getting an SBA Loan in South Carolina