Business Loan from South Carolina Bank & Trust Natl Given to Nursery And Garden Centers Company

An SBA loan from South Carolina Bank & Trust Natl typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Ruffin, South Carolina business owner got a $190,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with South Carolina Bank & Trust Natl, out of Walterboro, South Carolina. The loan was granted and they received $190,000 to help grow their Ruffin, South Carolina business.

SBA Loan Borrower

COMPANY TYPE: NURSERY AND GARDEN CENTERS
RUFFIN, SC 29475

SBA Loan Lender

SOUTH CAROLINA BANK & TRUST NATL
520 N JEFFRIES BLVD
WALTERBORO, SC 29488

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444220 - Nursery and Garden Centers

Loan Approval Date

3/13/2002

Loan Approval Gross Amount

$190,000

Loan Approval from the SBA

Of the total $190,000 loan amount, the SBA guaranteed $142,500.

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

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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