SBA Loans for Testing Laboratories

With these SBA loans for testing laboratories, the SBA guarantees the lender that the loan will be repaid. This testing laboratories loan for $213,250 was given to a South Carolina entrepreneur in 2003.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Southcoast Community Bank, out of Mount Pleasant, South Carolina. The loan was granted and they received $213,250 to help grow their North Charleston, South Carolina business.

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
NORTH CHARLESTON, SC 29405

SBA Loan Lender

SOUTHCOAST COMMUNITY BANK
530 JOHNNIE DODDS BLVD
MOUNT PLEASANT, SC 29464

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541380 - Testing Laboratories

Loan Approval Date

9/19/2003

Loan Approval Gross Amount

$213,250

Loan Approval from the SBA

Of the total $213,250 loan amount, the SBA guaranteed $159,938.

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 only one employee. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Southcoast Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Startup Funding Tip

SBA 7A Banks for Mount Pleasant, South Carolina Loans

South Carolina SBA 7A Lenders