Bank Of Travelers Rest Gives Business Loan to Full-Service Restaurants Company

Would a South Carolina small business loan help your small business to grow and prosper? If so, you may want to talk with this South Carolina bank, which offers SBA loans to South Carolina entrepreneurs.

This business, based in Spartanburg, South Carolina, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of Travelers Rest. We've got the inside scoop on this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SPARTANBURG, SC 29301

SBA Loan Lender

BANK OF TRAVELERS REST
5101 OLD BUNCOMBE RD
GREENVILLE, SC 29609

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/22/2005

Loan Approval Gross Amount

$530,000

Loan Approval from the SBA

Of the total $530,000 loan amount, the SBA guaranteed $397,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, 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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