First National Bank - So. D/b/a 1st Provides SBA Loan to Buy America's Country Stores Franchise

Borrowing money to purchase an America's Country Stores franchise? First National Bank - So. D/b/a 1st has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an America's Country Stores franchise requires some effort but others before you have been successful. In 2002, First National Bank - So. D/b/a 1st issued an SBA franchise loan to an entrepreneur in Campobello, South Carolina. Because America's Country Stores was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

AMERICA'S COUNTRY STORE
CAMPOBELLO, SC 29322

SBA Loan Lender

FIRST NATIONAL BANK - SO. D/B/A 1ST
215 N PINE ST
SPARTANBURG, SC 29302

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

1/9/2002

Loan Approval Gross Amount

$1,290,000

Loan Approval from the SBA

Of the total $1,290,000 loan amount, the SBA guaranteed $967,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an America's Country Stores franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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