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December 20, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Columbia, Business Loans > Business Carolina, Inc. Columbia Business Loans > Textile Product Mills Loan | ||||
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Getting a Small Business Loan in Myrtle Beach, South Carolina
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Business Carolina, Inc. Gives Bank Loan to Textile Product Mills CompanySBA 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 South Carolina bank, that was approved by the SBA. 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 Business Carolina, Inc.. We've got the inside scoop on this South Carolina small business loan. SBA Loan Borrower COMPANY TYPE: TEXTILE PRODUCT MILLS SBA Loan Lender BUSINESS CAROLINA, INC. This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 314999 - Textile Product Mills Loan Approval Date 8/20/2004 Loan Approval Gross Amount $1,200,000 Loan Approval from the SBA Of the total $1,200,000 loan amount, the SBA guaranteed $900,000. 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 21 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Business Carolina, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Business Carolina, Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Columbia, South Carolina Banks for Small Business
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