Moncks Corner, South Carolina Business Gets SBA-Guaranteed Funding from Community So. Bank D.B.A Commun

Community So. Bank D.B.A Commun has a track record as a leading provider of SBA loans. Find out how this South Carolina entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Moncks Corner, South Carolina, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Community So. Bank D.B.A Commun, based in Parsons, Tennessee.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
MONCKS CORNER, SC 29466

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

3/24/2006

Loan Approval Gross Amount

$1,177,000

Loan Approval from the SBA

Of the total $1,177,000 loan amount, the SBA guaranteed $882,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the funding would help create 2 new jobs.

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

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Debt Financing

SBA Banks in Parsons, Tennessee

Where to Get an SBA Loan Tennessee