Myrtle Beach, South Carolina Business Gets SBA-Guaranteed Funding from Branch Bank & Trust
Branch Bank & Trust 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.
This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Branch Bank & Trust, out of Winston Salem, North Carolina. The loan was granted and they received $134,500 to help grow their Myrtle Beach, South Carolina business.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MYRTLE BEACH, SC 29579
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
722211 - Limited-Service Restaurants
Loan Approval Date
6/2/2004
Loan Approval Gross Amount
$134,500
Loan Approval from the SBA
Of the total $134,500 loan amount, the SBA guaranteed $67,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Strategic Investors
Good Banks for Small Business in Winston Salem, North Carolina
SBA Participating Banks in North Carolina