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May 15, 2024 |
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| Home > Small Business Lenders by State > South Carolina Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Full-Service Restaurants Loan | ||||
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Raising Money in Charleston, South Carolina With SBA Loans
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Full-Service Restaurants Small Business LoansLooking for small business loans for full-service restaurants? The SBA may be the answer. This $65,000 full-service restaurants loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Charleston, South Carolina was able to borrow $65,000 from Suntrust Bank. The SBA made the loan possible by guaranteeing $32,500 of this South Carolina small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SUNTRUST BANK This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/18/2006 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $32,500. 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 50 employees. The loan application indicated that the loan would help generate 50 new jobs and retain 50 existing jobs. Start the Process for Getting an SBA Loan Today! If you need money to start business in Charleston SC, you ought to talk with a local Charleston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Charleston businesses. 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: Family and Friend Investors - Your First Financiers SBA 7A Banks for Richmond, Virginia Loans Where to Get an SBA Loan Virginia
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