Company Gets a South Carolina Business Loan

SBA loans in South Carolina are tough to come by these days. We take a look at one South Carolina SBA loan, provided by a South Carolina bank, that was approved by the SBA.

You can learn something about getting a small business loan in Winnsboro, South Carolina by studying this loan to a local business, made back in 2002. Banks like South Carolina Community Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES
WINNSBORO, SC 29180

SBA Loan Lender

SOUTH CAROLINA COMMUNITY BANK
1545 SUMTER ST
COLUMBIA, SC 29201

This lender issued this SBA 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

624120 - Services for the Elderly and Persons with Disabilities

Loan Approval Date

12/31/2002

Loan Approval Gross Amount

$214,091

Loan Approval from the SBA

Of the total $214,091 loan amount, the SBA guaranteed $160,568.

More Information on This SBA Loan

The borrower borrowed this money for a new 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. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Obtaining Funding - How to Decide How Much to Raise

SBA 7A Banks for Columbia, South Carolina Loans

Getting a Business Loan in South Carolina