Specialty Food Stores Bank Loans

With these bank loans for specialty food stores, the SBA guarantees the lender that the loan will be repaid. This specialty food stores loan for $313,300 was given to a South Carolina entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mt. Pleasant, South Carolina was able to borrow $313,300 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $234,975 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
Mt. Pleasant, SC 29464

SBA Loan Lender

BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

11/4/2005

Loan Approval Gross Amount

$313,300

Loan Approval from the SBA

Of the total $313,300 loan amount, the SBA guaranteed $234,975.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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