Raising Money for Child Day Care Services
With these business loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $25,000 was given to a Pennsylvania entrepreneur in 2001.
This business knew how to go about getting a business bank loan. Based in Canonsburg, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was National City Bank, based in Pittsburgh, Pennsylvania.
SBA Loan Borrower
COMPANY TYPE: CHILD DAY CARE SERVICES
CANONSBURG, PA 15317
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
8351 - Child Day Care Services
624410 - Child Day Care Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $21,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 6 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
Don't apply for a loan directly with the SBA. You need to 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.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company.
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.
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