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November 15, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Andrews, Business Loans > Exch Bank - So. Carolina Inc. Andrews Business Loans > Eating Places Loan | ||||
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Business Loans for Georgetown Entrepreneurs
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Full-Service Restaurants SBA LoansLooking for SBA loans for full-service restaurants? Try the SBA. This $55,000 full-service restaurants loan was issued by a South Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Georgetown, South Carolina was able to borrow $55,000 from Exch Bank - So. Carolina Inc.. The SBA made the loan possible by guaranteeing $46,750 of this South Carolina small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender EXCH BANK - SO. CAROLINA INC. This lender issued this particular bank 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 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 8/21/2003 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $46,750. 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 7 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours 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: Best Banks in Andrews, South Carolina Find an SBA Lender in South Carolina
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