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November 15, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Spartanburg, Business Loans > First National Bank - So. D/b/a 1st Spartanburg Business Loans > Machine Shops Loan | ||||
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First National Bank - So. D/b/a 1st
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Duncan, South Carolina Business Gets SBA-Guaranteed Funding from First National Bank - So. D/b/a 1stFirst National Bank - So. D/b/a 1st 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. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Duncan, South Carolina was able to borrow $700,000 from First National Bank - So. D/b/a 1st. The SBA made the loan possible by guaranteeing $525,000 of this South Carolina small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender FIRST NATIONAL BANK - SO. D/B/A 1ST As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332710 - Machine Shops Loan Approval Date 1/24/2005 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. 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 27 employees. The loan application indicated that the loan would help retain 27 existing jobs. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Small Bank Loans in Spartanburg, South Carolina
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