Greenville, South Carolina Business Gets SBA-Guaranteed Funding from Bank Of Travelers Rest

Bank Of Travelers Rest has a track record as a leading provider of SBA loans. Find out how this South Carolina entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Greenville, South Carolina, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Bank Of Travelers Rest, based in Travelers Rest, South Carolina.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
GREENVILLE, SC 29601

SBA Loan Lender

BANK OF TRAVELERS REST
42 PLAZA DR
TRAVELERS REST, SC 29690

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA 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

811111 - General Automotive Repair

Loan Approval Date

4/6/2005

Loan Approval Gross Amount

$80,910

Loan Approval from the SBA

Of the total $80,910 loan amount, the SBA guaranteed $68,773.

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 4 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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:

Business Incubators

Best Travelers Rest, South Carolina Banks for Small Business

Where to Get an SBA Loan South Carolina