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

Thinking about meeting with a Greenville, South Carolina bank about an SBA loan? Here's one South Carolina business loan, issued by a Greenville bank, that was approved by the SBA.

Applying for an SBA loan with Suntrust Bank worked out well for our friends at one local firm in Greenville, South Carolina. They received an SBA loan for $150,000. Great job!

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
GREENVILLE, SC 29601

SBA Loan Lender

SUNTRUST BANK
300 E MCBEE AVE
GREENVILLE, SC 29601

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

5/14/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $120,000.

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 only one employee. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Direct Public Offerings

SBA Participating Banks in Greenville, South Carolina

SBA South Carolina Banks