Entrepreneur Works With Gaffney, South Carolina Bank to Get an SBA Loan

Want to talk with a Gaffney, South Carolina bank about a small business loan? Here's one South Carolina business loan, issued by a Gaffney bank, that was approved by the SBA.

Applying for an SBA loan with American Community Bank worked out well for our friends at one local firm in Gaffney, South Carolina. The business was able to get an SBA loan for $130,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: LAWYERS
GAFFNEY, SC 29340

SBA Loan Lender

AMERICAN COMMUNITY BANK
217 N GRANARD ST
GAFFNEY, SC 29341

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541110 - Lawyers

Loan Approval Date

5/31/2005

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Business Credit Evaluation

SBA Approved Banks in Gaffney, South Carolina

Where to Get an SBA Loan South Carolina