First Cit. Bank & Trust Inc SBA Loan to Hobby, Toy, And Game Shops Company

First Cit. Bank & Trust Inc has a track record as a leading provider of SBA loans. Find out how this South Carolina entrepreneur received an SBA loan from them.

Getting a small business loan in Columbia, 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 First Cit. Bank & Trust Inc, operating out of Columbia, South Carolina. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME SHOPS
COLUMBIA, SC 29212

SBA Loan Lender

FIRST CIT. BANK & TRUST INC
1314 PARK ST
COLUMBIA, SC 29201

This lender issued this particular loan for a small business 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

5945 - Hobby, Toy, and Game Shops

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

5/24/2002

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

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

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Cit. Bank & Trust Inc that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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