Summerville, South Carolina Business Gets SBA-Guaranteed Funding from First National Bank - So. Carolina

An SBA loan from First National Bank - So. Carolina typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Summerville, South Carolina business owner got a $100,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with First National Bank - So. Carolina, out of Summerville, South Carolina. The loan was granted and they received $100,000 to help grow their Summerville, South Carolina business.

SBA Loan Borrower

COMPANY TYPE: COATING, ENGRAVING, AND ALLIED SERVICES
SUMMERVILLE, SC 29484

SBA Loan Lender

FIRST NATIONAL BANK - SO. CAROLINA
415 N MAIN ST
SUMMERVILLE, SC 29483

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

SIC Code

3479 - Coating, Engraving, and Allied Services

Loan Approval Date

3/8/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

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 28 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

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 First National Bank - So. Carolina 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:

Determining Proper Capital Structure for a Business

Where to Get an SBA Loan in Summerville, South Carolina

South Carolina SBA 7A Lenders