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May 2, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cleveland, Business Loans > Dollar Bank A Fed. Savings Bk Cleveland Business Loans > Child Day Care Services Loan | ||||
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What Does It Take to Get a Business Loan in Aurora, Ohio?
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Where to Get Capital for Child Day Care ServicesLooking for small business loans for child day care services? Try the SBA. This $540,000 child day care services loan was issued by an Ohio bank. This company knew how to go about getting a business bank loan. Based in Aurora, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Dollar Bank A Fed. Savings Bk, based in Cleveland, Ohio. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender DOLLAR BANK A FED. SAVINGS BK This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 10/12/2004 Loan Approval Gross Amount $540,000 Loan Approval from the SBA Of the total $540,000 loan amount, the SBA guaranteed $405,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 Dollar Bank A Fed. Savings Bk 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 Cleveland, Ohio Banks for Small Business
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