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May 14, 2024  
 
 
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I Need a Small Business Loan in Martinsville, Virginia

 

 
Loan Census SBA Loan Info

Child Day Care Services SBA Loans

Looking for SBA loans for child day care services? Talk to a banker who works with the SBA. This $71,550 child day care services loan was issued by a North Carolina bank.

Getting a small business loan in Martinsville, Virginia was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First-Citizens Bank & Trust, operating out of Raleigh, North Carolina. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
MARTINSVILLE, VA 24112

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
4300 SIX FORKS RD
RALEIGH, NC 27609

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires 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

8/1/2000

Loan Approval Gross Amount

$71,550

Loan Approval from the SBA

Of the total $71,550 loan amount, the SBA guaranteed $57,240.

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 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First-Citizens Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First-Citizens Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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