Florence, South Carolina Lender Lends Money to Pump And Pumping Equipment Manufacturing Company

Thinking about meeting with a Florence, South Carolina bank about a business loan? Here's one South Carolina business loan, issued by a Florence bank, that was approved by the SBA.

Applying for an SBA loan with Sentry Bank & Trust worked out well for our friends at one local company in Cheraw, South Carolina. They got an SBA loan for $98,000. Nice!

SBA Loan Borrower

COMPANY TYPE: PUMP AND PUMPING EQUIPMENT MANUFACTURING
CHERAW, SC 29520

SBA Loan Lender

SENTRY BANK & TRUST
452 2ND LOOP RD
FLORENCE, SC 29505

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333911 - Pump and Pumping Equipment Manufacturing

Loan Approval Date

2/28/2006

Loan Approval Gross Amount

$98,000

Loan Approval from the SBA

Of the total $98,000 loan amount, the SBA guaranteed $73,500.

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 12 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Sentry 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:

Microlending as a Small Business Funding Source

SBA 7A Lenders in Florence, South Carolina

SBA Participating Banks in South Carolina