First Cit. Bank & Trust Inc SBA Loan to Lumber, Plywood, Millwork, And Wood Panels Company

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

This up and coming company knew how to go about getting a business bank loan. Based in Johnston, South Carolina, they applied for and were given an SBA-guaranteed loan in 2003. The lending bank was First Cit. Bank & Trust Inc, based in Columbia, South Carolina.

SBA Loan Borrower

COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANELS
JOHNSTON, SC 29832

SBA Loan Lender

FIRST CIT. BANK & TRUST INC
1314 PARK ST
COLUMBIA, SC 29201

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.

SIC Code

5031 - Lumber, Plywood, Millwork, and Wood Panels

NAICS Code

421310 -

Loan Approval Date

1/27/2003

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

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 6 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Cit. Bank & Trust Inc and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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