Charleston, South Carolina Business Gets SBA-Guaranteed Funding from Community Bank & Trust

An SBA loan from Community Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Charleston, South Carolina business owner got a $627,500 loan.

Getting a small business loan in Charleston, South Carolina was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Community Bank & Trust, operating out of Cornelia, Georgia. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: COSMETICS, BEAUTY SUPPLIES, AND PERFUME STORES
CHARLESTON, SC 29403

SBA Loan Lender

COMMUNITY BANK & TRUST
448 N MAIN ST
CORNELIA, GA 30531

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446120 - Cosmetics, Beauty Supplies, and Perfume Stores

Loan Approval Date

7/12/2005

Loan Approval Gross Amount

$627,500

Loan Approval from the SBA

Of the total $627,500 loan amount, the SBA guaranteed $470,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Dealing With Venture Capitalists

SBA Participating Banks in Cornelia, Georgia

Getting an SBA Loan in Georgia