Southcoast Community Bank Gives Bank Loan to Beauty Shops Company

Bank loans in South Carolina are are few and far betweeen these days. We take a look at one South Carolina bank loan, provided by a South Carolina bank, that was approved by the SBA.

You can learn something about getting a small business loan in Charleston, South Carolina by studying this loan to a local company, made back in 2002. Banks like Southcoast Community Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
CHARLESTON, SC 29412

SBA Loan Lender

SOUTHCOAST COMMUNITY BANK
530 JOHNNIE DODDS BLVD
MOUNT PLEASANT, SC 29464

This lender issued this particular small business 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

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

1/16/2002

Loan Approval Gross Amount

$69,000

Loan Approval from the SBA

Of the total $69,000 loan amount, the SBA guaranteed $58,650.

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 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Southcoast Community Bank and they will explain how you can get an SBA loan for your company.

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:

Understanding Dilution

Best Banks for Small Business in Mount Pleasant, South Carolina

Getting an SBA Loan in South Carolina