First Fed. S & L Assoc - Charl SBA Loan to Sporting Goods Stores Company

First Fed. S & L Assoc - Charl and the SBA work together to get business loans for growing small businesses. Here's an example of how a South Carolina entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Mount Pleasant, South Carolina was an essential business goal for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Fed. S & L Assoc - Charl, operating out of Charleston, South Carolina. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
MOUNT PLEASANT, SC 29464

SBA Loan Lender

FIRST FED. S & L ASSOC - CHARL
34 BROAD ST
CHARLESTON, SC 29401

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

7/16/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

The Friends and Family Network

SBA Approved Banks in Charleston, South Carolina

South Carolina SBA Banks