Industrial Machinery and Equipment Wholesalers Commercial Loans

Looking for commercial loans for industrial machinery and equipment wholesalers? The SBA may be the answer. This $70,000 industrial machinery and equipment wholesalers loan was issued by a South Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cayce, South Carolina was able to borrow $70,000 from First Cit. Bank & Trust Inc. The SBA made the loan possible by guaranteeing $59,500 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL SUPPLIES
CAYCE, SC 29033

SBA Loan Lender

FIRST CIT. BANK & TRUST INC
1314 PARK ST
COLUMBIA, SC 29201

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5085 - Industrial Supplies

NAICS Code

421830 - Industrial Machinery and Equipment Wholesalers

Loan Approval Date

2/15/2001

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 6 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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