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November 15, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Florence, Business Loans > First Reliance Bank Florence Business Loans > Services Loan | ||||
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Florence, South Carolina Bank Loan
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Company Gets a South Carolina Bank LoanLooking to get a South Carolina SBA loan? This South Carolina entrepreneur got an SBA loan, provided by a South Carolina bank that works with the SBA to help small business owners. Getting a small business loan in Florence, South Carolina was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Reliance Bank. Here are the details on this South Carolina small business loan. SBA Loan Borrower COMPANY TYPE: SERVICES SBA Loan Lender FIRST RELIANCE BANK This lender issued this particular business 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 8999 - Services Loan Approval Date 9/8/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 13 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your 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 First Reliance Bank 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: SBA Approved Banks in Florence, South Carolina
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