Local Business Gets a South Carolina SBA Loan

Business loans in South Carolina are are few and far betweeen these days. We take a look at one South Carolina business loan, provided by a South Carolina bank, that was approved by the SBA.

Getting a small business loan in Gaffney, South Carolina was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from American Community Bank. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: RV PARKS AND CAMPGROUNDS
GAFFNEY, SC 29341

SBA Loan Lender

AMERICAN COMMUNITY BANK
217 N GRANARD ST
GAFFNEY, SC 29341

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721211 - RV Parks and Campgrounds

Loan Approval Date

5/13/2003

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 only one employee. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like American Community Bank and they will explain how you can get an SBA loan for your company.

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 Business Credit Cards

Banks in Gaffney, South Carolina

South Carolina SBA Banks