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May 12, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Child Day Care Services Loan | ||||
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Branch Bank & Trust Small Business Loan
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Where to Get Capital for Child Day Care ServicesLooking for SBA loans for child day care services? Talk to a banker who works with the SBA. This $150,000 child day care services loan was issued by a North Carolina bank. This business knew how to go about getting a business bank loan. Based in Belle, West Virginia, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Branch Bank & Trust, based in Winston Salem, North Carolina. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender BRANCH BANK & TRUST This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. 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 11/29/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 6 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours 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: Where to Get an SBA Loan in Winston Salem, North Carolina
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