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April 28, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Nashville, Business Loans > The Bank Of Nashville Nashville Business Loans > Child Day Care Services Loan | ||||
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Get a Business Loan from The Bank Of Nashville
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The Bank Of Nashville SBA Loan to Child Day Care Services CompanyThe Bank Of Nashville and the SBA work together to get business loans for growing small businesses. Here's an example of how a Kentucky entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hopkinsville, Kentucky was able to borrow $513,000 from The Bank Of Nashville. The SBA made the loan possible by guaranteeing $384,750 of this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender THE BANK OF NASHVILLE This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 2/22/2007 Loan Approval Gross Amount $513,000 Loan Approval from the SBA Of the total $513,000 loan amount, the SBA guaranteed $384,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 17 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 17 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Small Business Banks in Nashville, Tennessee
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