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April 20, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Framingham, Business Loans > Middlesex Savings Bank Framingham Business Loans > Child Day Care Services Loan | ||||
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Massachusetts Small Business Funding
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Raising 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 $75,000 was given to a Massachusetts entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Natick, Massachusetts was able to borrow $75,000 from Middlesex Savings Bank. The SBA made the loan possible by guaranteeing $63,750 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender MIDDLESEX SAVINGS BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. 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 9/16/2002 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 15 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This SBA loan was for $75,000. How would you spend $75,000 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 Framingham, Massachusetts
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