Borrowing Money for Air and Gas Compressor Manufacturing

With these bank loans for air and gas compressor manufacturing, the SBA guarantees the lender that the loan will be repaid. This air and gas compressor manufacturing loan for $650,000 was given to a South Carolina entrepreneur in 2004.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Carter Bank & Trust, out of Shelby, North Carolina. The loan was granted and they received $650,000 to help grow their Lake Wylie, South Carolina business.

SBA Loan Borrower

COMPANY TYPE: AIR AND GAS COMPRESSOR MANUFACTURING
LAKE WYLIE, SC 29710

SBA Loan Lender

CARTER BANK & TRUST
2009 E DIXON BLVD
SHELBY, NC 28152

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333912 - Air and Gas Compressor Manufacturing

Loan Approval Date

5/13/2004

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $585,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Carter Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Raising Venture Capital

Small Bank Loans in Shelby, North Carolina

Getting a Business Loan in North Carolina