Company Gets a South Carolina Business Loan

Searching for a South Carolina SBA loan? This South Carolina entrepreneur got an SBA loan, provided by a South Carolina bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Summerville, South Carolina by studying this loan to a local business, made back in 2008. Banks like First Fed. S & L Assoc - Charl may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SUMMERVILLE, SC 29477

SBA Loan Lender

FIRST FED. S & L ASSOC - CHARL
34 BROAD ST
CHARLESTON, SC 29401

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/21/2008

Loan Approval Gross Amount

$162,500

Loan Approval from the SBA

Of the total $162,500 loan amount, the SBA guaranteed $81,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The loan application indicated that the loan would help retain 11 existing jobs.

Getting an SBA Loan For Your Business

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

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.

Related Links:

Determining Proper Capital Structure for a Business

SBA 7A Banks in Charleston, South Carolina

SBA Lenders in South Carolina