Raising Money for Cemeteries and Crematories

With these bank loans for cemeteries and crematories, the SBA guarantees the lender that the loan will be repaid. This cemeteries and crematories loan for $150,000 was given to a South Carolina entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in N. Myrtle Beach, South Carolina was able to borrow $150,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $127,500 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: CEMETERIES AND CREMATORIES
N. MYRTLE BEACH, SC 29582

SBA Loan Lender

BRANCH BANK & TRUST
2619 OAK ST
MYRTLE BEACH, SC 29577

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812220 - Cemeteries and Crematories

Loan Approval Date

3/28/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

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.

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 Branch Bank & Trust 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.

Related Links:

Find Start-Up Capital

Find an SBA Lender in Myrtle Beach, South Carolina

South Carolina SBA 7A Lenders