Raising Money for Textile Machinery Manufacturing

With these bank loans for textile machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This textile machinery manufacturing loan for $1,000,000 was given to a South Carolina entrepreneur in 2005.

Getting a small business loan in Greenville, South Carolina was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Travelers Rest, operating out of Greenville, South Carolina. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE MACHINERY MANUFACTURING
GREENVILLE, SC 29611

SBA Loan Lender

BANK OF TRAVELERS REST
5101 OLD BUNCOMBE RD
GREENVILLE, SC 29609

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333292 - Textile Machinery Manufacturing

Loan Approval Date

3/29/2005

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 42 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of Travelers Rest had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of Travelers Rest made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Borrowing Money from Friends and Family

Where to Get an SBA Loan in Greenville, South Carolina

South Carolina SBA Bank Lenders