Music Publishers SBA Loans

Looking for SBA loans for music publishers? An SBA loan may be just what you've been looking for. This $85,000 music publishers loan was issued by a South Carolina bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Lowcountry National Bank, out of Beaufort, South Carolina. The loan was granted and they received $85,000 to help grow their Hilton Head Island, South Carolina business.

SBA Loan Borrower

COMPANY TYPE: MUSIC PUBLISHERS
HILTON HEAD ISLAND, SC 29935

SBA Loan Lender

LOWCOUNTRY NATIONAL BANK
36 SEA ISLAND PKWY
BEAUFORT, SC 29907

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

512230 - Music Publishers

Loan Approval Date

2/7/2005

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 2 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

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SBA Participating Banks in Beaufort, South Carolina

South Carolina SBA Bank Lenders