First South Bank SBA Loan to Testing Laboratories Company

Want a South Carolina SBA loan? Here's one South Carolina business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Greenwood, South Carolina was able to borrow $250,200 from First South Bank. The SBA made the loan possible by guaranteeing $187,650 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
GREENWOOD, SC 29646

SBA Loan Lender

FIRST SOUTH BANK
1450 JOHN B WHITE SR BLVD
SPARTANBURG, SC 29306

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8734 - Testing Laboratories

Loan Approval Date

6/27/2000

Loan Approval Gross Amount

$250,200

Loan Approval from the SBA

Of the total $250,200 loan amount, the SBA guaranteed $187,650.

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 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First South Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First South Bank 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.

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