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December 22, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Mount Pleasant, Business Loans > Southcoast Community Bank Mount Pleasant Business Loans > General Automotive Repair Shops Loan | ||||
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Southcoast Community Bank SBA Loans Charleston, SC
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Business Loan from Southcoast Community Bank Given to General Automotive Repair Shops CompanySouthcoast Community Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a South Carolina entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Charleston, South Carolina, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Southcoast Community Bank, based in Mount Pleasant, South Carolina. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender SOUTHCOAST COMMUNITY BANK This lender issued this particular commercial 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 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 9/23/2002 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $93,500. 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 documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are working on finding money to start a business in Charleston SC, you ought to talk with a local Charleston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Charleston businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Southcoast Community Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: The Friends and Family Network SBA Approved Banks in Mount Pleasant, South Carolina
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