South Carolina Small Business Loan Issued to Medical, Dental And Hospital Equipment Company

Want a South Carolina business loan? This South Carolina entrepreneur got a business loan, provided by a South Carolina bank that works with the SBA to help small business owners.

This small business, based in Myrtle Beach, South Carolina, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Beach First National Bank. We've got the inside scoop on this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: MEDICAL, DENTAL AND HOSPITAL EQUIPMENT
MYRTLE BEACH, SC 29575

SBA Loan Lender

BEACH FIRST NATIONAL BANK
3751 ROBERT M GRISSOM PKWY, S
MYRTLE BEACH, SC 29577

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5047 - Medical, Dental and Hospital Equipment

NAICS Code

446199 - Health and Personal Care Stores

Loan Approval Date

10/13/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

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 5 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Beach First National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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