Local Business Gets a South Carolina Business Loan

Would a South Carolina business loan help your company expand? If so, you may want to talk with this South Carolina bank, which offers SBA loans to South Carolina entrepreneurs.

This business, based in Greenville, South Carolina, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First National Bank - So. D/b/a 1st. We've got the inside scoop on this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING
GREENVILLE, SC 29608

SBA Loan Lender

FIRST NATIONAL BANK - SO. D/B/A 1ST
215 N PINE ST
SPARTANBURG, SC 29302

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

326199 - Plastics Product Manufacturing

Loan Approval Date

10/28/2005

Loan Approval Gross Amount

$1,800,000

Loan Approval from the SBA

Of the total $1,800,000 loan amount, the SBA guaranteed $1,350,000.

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 28 employees. The loan application indicated that the loan would help retain 28 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

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. D/b/a 1st 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:

Obtaining Funding - How to Decide How Much to Raise

SBA Participating Banks in Spartanburg, South Carolina

Getting an SBA Loan in South Carolina