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

An SBA loan from Southcoast Community Bank 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 $30,000 loan.

Getting a small business loan in Charleston, South Carolina was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Southcoast Community Bank, operating out of Mount Pleasant, South Carolina. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
CHARLESTON, SC 29403

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5932 - Used Merchandise Stores

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

2/7/2002

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

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:

SBIR Funding

Best Banks for Small Business in Mount Pleasant, South Carolina

Getting an SBA Loan in South Carolina