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May 20, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Mount Pleasant, Business Loans > Southcoast Community Bank Mount Pleasant Business Loans > Radio And Television Communications Equipment Loan | ||||
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Charleston, South Carolina Bank Loan
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Southcoast Community Bank Gives Business Loan to Radio And Television Communications Equipment CompanyLooking to get a South Carolina business loan? This South Carolina entrepreneur got a business loan, provided by a South Carolina bank that works with the SBA to help small business owners. This small business, based in Charleston, 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 Southcoast Community Bank. We've got the inside scoop on this South Carolina small business loan. SBA Loan Borrower COMPANY TYPE: RADIO AND TELEVISION COMMUNICATIONS EQUIPMENT SBA Loan Lender SOUTHCOAST COMMUNITY BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3663 - Radio and Television Communications Equipment NAICS Code 334220 - Radio and Television Broadcasting and Wireless Communications Equipment Loan Approval Date 12/18/2001 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add 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 find other ways to get money to start a business, 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. Related Links: Obtaining Funding - How to Borrow Money Small Business Banks in Mount Pleasant, South Carolina Getting an SBA Loan in South Carolina
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