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May 16, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Shelby, Business Loans > First National Bank Of Shelby Shelby Business Loans > Air And Gas Compressor Manufacturing Loan | ||||
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SBA Lenders That Lend to Lake Wylie Small Business Owners
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South Carolina Bank Loan Issued to Air And Gas Compressor Manufacturing CompanySouth CarolinaBank loans are available to South Carolina firms through the SBA. In this case, a North Carolina bank provides the loan. By giving the right information to First National Bank Of Shelby, this Lake Wylie, South Carolina business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: AIR AND GAS COMPRESSOR MANUFACTURING SBA Loan Lender FIRST NATIONAL BANK OF SHELBY This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began 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 333912 - Air and Gas Compressor Manufacturing Loan Approval Date 6/29/2005 Loan Approval Gross Amount $650,000 Loan Approval from the SBA Of the total $650,000 loan amount, the SBA guaranteed $585,000. 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 3 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Of Shelby 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: Best Banks for Small Business in Shelby, North Carolina
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