Financing for Textile and Fabric Finishing Mills

With these commercial loans for textile and fabric finishing mills, the SBA guarantees the lender that the loan will be repaid. This textile and fabric finishing mills loan for $1,275,000 was given to a South Carolina entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Piedmont, South Carolina was able to borrow $1,275,000 from First National Business Cap.. The SBA made the loan possible by guaranteeing $956,250 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE AND FABRIC FINISHING MILLS
PIEDMONT, SC 29673

SBA Loan Lender

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

This lender issued this SBA small business loan under the SBA's 7A loan, 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

313312 - Textile and Fabric Finishing Mills

Loan Approval Date

9/30/2004

Loan Approval Gross Amount

$1,275,000

Loan Approval from the SBA

Of the total $1,275,000 loan amount, the SBA guaranteed $956,250.

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 10 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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SBA South Carolina Lenders