Where to Get Capital for Residential Care Facilities

Looking for small business loans for residential care facilities? Try the SBA. This $250,000 residential care facilities loan was issued by a South Carolina bank.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First National Business Cap., out of Greenville, South Carolina. The loan was granted and they received $250,000 to help grow their Pauline, South Carolina business.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE FACILITIES
PAULINE, SC 29374

SBA Loan Lender

FIRST NATIONAL BUSINESS CAP.
1204 A EAST WASHINGTON ST
GREENVILLE, SC 29601

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623990 - Residential Care Facilities

Loan Approval Date

3/31/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the money to add employees 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First National Business Cap. that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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