Business Loan from First National Bank - So. Carolina Given to Coin-Operated Laundries And Drycleaners Company

An SBA loan from First National Bank - So. Carolina typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Goose Creek, South Carolina business owner got a $45,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Goose Creek, South Carolina was able to borrow $45,000 from First National Bank - So. Carolina. The SBA made the loan possible by guaranteeing $38,250 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
GOOSE CREEK, SC 29445

SBA Loan Lender

FIRST NATIONAL BANK - SO. CAROLINA
415 N MAIN ST
SUMMERVILLE, SC 29483

This SBA bank 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

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

4/12/2001

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 National Bank - So. Carolina 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:

SBIR Funding

SBA Banks in Summerville, South Carolina

Where to Get an SBA Loan South Carolina