Raising Money for Warehouse Clubs and Superstores

With these business loans for warehouse clubs and superstores, the SBA guarantees the lender that the loan will be repaid. This warehouse clubs and superstores loan for $147,500 was given to a South Carolina entrepreneur in 2005.

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

SBA Loan Borrower

COMPANY TYPE: WAREHOUSE CLUBS AND SUPERSTORES
GREENVILLE, SC 29615

SBA Loan Lender

CAROLINA FIRST BANK
102 S MAIN ST
GREENVILLE, SC 29601

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452910 - Warehouse Clubs and Superstores

Loan Approval Date

1/12/2005

Loan Approval Gross Amount

$147,500

Loan Approval from the SBA

Of the total $147,500 loan amount, the SBA guaranteed $125,375.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Carolina First Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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