Conway, South Carolina Business Gets SBA-Guaranteed Funding from Horry County State Bank

An SBA loan from Horry County State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Conway, South Carolina business owner got a $350,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Conway, South Carolina was able to borrow $350,000 from Horry County State Bank. The SBA made the loan possible by guaranteeing $288,750 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: CIGARETTE MANUFACTURING
CONWAY, SC 29569

SBA Loan Lender

HORRY COUNTY STATE BANK
5009 BROAD ST
LORIS, SC 29569

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

312221 - Cigarette Manufacturing

Loan Approval Date

2/7/2002

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $288,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $350,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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