Branch Bank & Trust SBA Loan to Child Day Care Services Company

Branch Bank & Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Tennessee entrepreneur who tapped into the power of SBA loans.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Branch Bank & Trust, out of Covington, Georgia. The loan was granted and they received $1,757,000 to help grow their Ooltewah, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
OOLTEWAH, TN 37363

SBA Loan Lender

BRANCH BANK & TRUST
1134 CLARK ST
COVINGTON, GA 30326

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

5/3/2005

Loan Approval Gross Amount

$1,757,000

Loan Approval from the SBA

Of the total $1,757,000 loan amount, the SBA guaranteed $1,317,750.

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 23 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Ooltewah TN, you ought to talk with a local Ooltewah SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ooltewah businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

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SBA Approved Banks in Covington, Georgia

Georgia SBA Bank Lenders