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December 22, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > North Augusta, Business Loans > Security Federal Bank North Augusta Business Loans > Funeral Homes And Funeral Services Loan | ||||
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What Does It Take to Get a Business Loan in Graniteville, South Carolina?
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Funeral Homes and Funeral Services Small Business LoansWith these small business loans for funeral homes and funeral services, the SBA guarantees the lender that the loan will be repaid. This funeral homes and funeral services loan for $150,000 was given to a South Carolina entrepreneur in 2003. Getting a small business loan in Graniteville, South Carolina was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Security Federal Bank, operating out of North Augusta, South Carolina. Here are the details on this South Carolina small business loan. SBA Loan Borrower COMPANY TYPE: FUNERAL HOMES AND FUNERAL SERVICES SBA Loan Lender SECURITY FEDERAL BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812210 - Funeral Homes and Funeral Services Loan Approval Date 11/17/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 North Augusta, South Carolina Getting a Business Loan in South Carolina
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