Loan Census Banking News and Information
March 29, 2024  
 
 
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SBA Lender Galveston Texas

 

 
Loan Census SBA Loan Info

Where to Get Capital for Child Day Care Services

Looking for SBA loans for child day care services? Talk to a banker who works with the SBA. This $438,700 child day care services loan was issued by a Nevada bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Galveston, Texas was able to borrow $438,700 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $329,025 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
GALVESTON, TX 77551

SBA Loan Lender

WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

1/26/2001

Loan Approval Gross Amount

$438,700

Loan Approval from the SBA

Of the total $438,700 loan amount, the SBA guaranteed $329,025.

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 12 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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