Get an SBA Loan for Industrial Machinery Manufacturing

Looking for small business loans for industrial machinery manufacturing? The SBA may be the answer. This $73,000 industrial machinery manufacturing loan was issued by a South Carolina bank.

This company knew how to go about getting a business bank loan. Based in Duncan, South Carolina, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Carolina First Bank, based in Greenville, South Carolina.

SBA Loan Borrower

COMPANY TYPE: SPECIAL INDUSTRY MACHINERY
DUNCAN, SC 29334

SBA Loan Lender

CAROLINA FIRST BANK
102 S MAIN ST
GREENVILLE, SC 29601

This lender issued this particular SBA loan 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

3559 - Special Industry Machinery

NAICS Code

333298 - Industrial Machinery Manufacturing

Loan Approval Date

10/6/2003

Loan Approval Gross Amount

$73,000

Loan Approval from the SBA

Of the total $73,000 loan amount, the SBA guaranteed $62,050.

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. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Carolina First Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Carolina First Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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Small Business Banks in Greenville, South Carolina

Browse All Business Loan Sources for South Carolina