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April 28, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Atlanta, Business Loans > Regions Bank Atlanta Business Loans > Aram LLC Loan | ||||
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How to Get SBA Loans in Columbia, South Carolina
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Borrow Money to Buy a Marble Slab Creamery FranchiseNeed a loan to purchase a Marble Slab Creamery franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Columbia, South Carolina and are interested in buying a Marble Slab Creamery franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Regions Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower ARAM LLC SBA Loan Lender REGIONS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/25/2004 Loan Approval Gross Amount $165,000 Loan Approval from the SBA Of the total $165,000 loan amount, the SBA guaranteed $123,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Marble Slab Creamery franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 30 new jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Banks in Atlanta, Georgia
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