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May 17, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Wichita Falls, Business Loans > Citibank Wichita Falls Business Loans > Child Day Care Services Loan | ||||
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Small Business Banks in Texas
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Child Day Care Services Bank LoansLooking for bank loans for child day care services? The SBA may be the answer. This $127,500 child day care services loan was issued by a Texas bank. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Citibank, out of Wichita Falls, Texas. The loan was granted and they received $127,500 to help grow their Burkburnett, Texas business. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender CITIBANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 7/9/2003 Loan Approval Gross Amount $127,500 Loan Approval from the SBA Of the total $127,500 loan amount, the SBA guaranteed $108,375. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: Raising VC Money for Social Networking Companies Who Lends Money to Small Businesses in Wichita Falls, Texas SBA Participating Banks in Texas
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