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May 17, 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 > Intermediate Care Facilities Loan | ||||
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South Carolina Bank SBA Loans
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Southcoast Community Bank SBA Loan to Intermediate Care Facilities CompanyWant a South Carolina small business loan? Here's one South Carolina business loan that was approved by the SBA. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Southcoast Community Bank, out of Mount Pleasant, South Carolina. The loan was granted and they received $75,000 to help grow their Charleston, South Carolina business. SBA Loan Borrower COMPANY TYPE: INTERMEDIATE CARE FACILITIES SBA Loan Lender SOUTHCOAST COMMUNITY BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8052 - Intermediate Care Facilities Loan Approval Date 1/12/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $60,000. 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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business 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 Southcoast Community Bank 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: Good Banks for Small Business in Mount Pleasant, South Carolina Browse All Business Loan Sources for South Carolina
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