Lancaster, South Carolina Business Gets SBA-Guaranteed Funding from Business Devel Corp - So. Caro

Business Devel Corp - So. Caro is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one South Carolina entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in Lancaster, South Carolina, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Business Devel Corp - So. Caro, based in Columbia, South Carolina.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL ELECTRIC LIGHTING FIXTURE MANUFACTURING
LANCASTER, SC 29720

SBA Loan Lender

BUSINESS DEVEL CORP - SO. CARO
111 EXEC CENTER DR, STE 225
COLUMBIA, SC 29221

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

335122 - Commercial and Industrial Electric Lighting Fixture Manufacturing

Loan Approval Date

7/18/2006

Loan Approval Gross Amount

$480,000

Loan Approval from the SBA

Of the total $480,000 loan amount, the SBA guaranteed $360,000.

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. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

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

Related Links:

Small Business Credit Cards

SBA Banks in Columbia, South Carolina

Find an SBA Lender in South Carolina