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May 17, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Florence, Business Loans > First Reliance Bank Florence Business Loans > Eating Places Loan | ||||
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SBA 7A Banks in South Carolina
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Get an SBA Loan for Limited-Service RestaurantsLooking for loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $150,000 limited-service restaurants loan was issued by a South Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Florence, South Carolina was able to borrow $150,000 from First Reliance Bank. The SBA made the loan possible by guaranteeing $127,500 of this South Carolina small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FIRST RELIANCE BANK This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 6/17/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. We've showcased information on this loan to let you know that businesses like yours 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: Banking Deregulation's Effects on Entrepreneurship Good Banks for Small Business in Florence, South Carolina Getting an SBA Loan in South Carolina
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