South Carolina Bank Loan Issued to General Automotive Repair Company

SBA loans in South Carolina are are few and far betweeen these days. We take a look at one South Carolina SBA loan, provided by a Texas bank, that was approved by the SBA.

You can learn something about getting a small business loan in Lexington, South Carolina by studying this loan to a local business, made back in 2007. Banks like Comerica Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
Lexington, SC 29072

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/11/2007

Loan Approval Gross Amount

$281,000

Loan Approval from the SBA

Of the total $281,000 loan amount, the SBA guaranteed $210,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. This SBA loan request indicated that the borrowed money would help generate 5 new jobs.

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

If you are wondering how to raise money for a company in Lexington SC, you ought to talk with a local Lexington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lexington businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Comerica Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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