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May 13, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Geneva, Business Loans > Five Star Bank Geneva Business Loans > Child Day Care Services Loan | ||||
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Good Banks for Lima Businesses
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Borrowing Money for Child Day Care ServicesWith these bank loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $172,000 was given to a New York entrepreneur in 2004. This small firm knew how to go about getting a business bank loan. Based in Lima, New York, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Five Star Bank, based in Geneva, New York. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender FIVE STAR BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a 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 8/30/2004 Loan Approval Gross Amount $172,000 Loan Approval from the SBA Of the total $172,000 loan amount, the SBA guaranteed $129,000. 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 4 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This SBA loan was for $172,000. How would you spend $172,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA Participating Banks in New York
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