South Carolina SBA Loan Issued to Equipment Rental And Leasing Company

Would a South Carolina bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this South Carolina bank, which offers SBA loans to South Carolina entrepreneurs.

This company, based in Jackson, 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 Cit. Bank & Trust Inc. We've got the inside scoop on this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: EQUIPMENT RENTAL AND LEASING
JACKSON, SC 29831

SBA Loan Lender

FIRST CIT. BANK & TRUST INC
125 PARK AVE SW
AIKEN, SC 29801

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.

SIC Code

7359 - Equipment Rental and Leasing

NAICS Code

532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing

Loan Approval Date

2/28/2001

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

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 small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Cit. Bank & Trust Inc and they will explain how you can get an SBA loan for your company.

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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South Carolina SBA Loan Issued to Equipment Rental And Leasing Company