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May 2, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Child Day Care Services Loan | ||||
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Business Loans for Pawtucket Small Businesses
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Where to Get Capital for Child Day Care ServicesWith these SBA loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $325,000 was given to a Rhode Island entrepreneur in 2004. This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Business Loan Center, LLC, out of Richmond, Virginia. The loan was granted and they received $325,000 to help grow their Pawtucket, Rhode Island business. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. 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 7/8/2004 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $243,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business 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. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Realistic Debt Financing Options Best Richmond, Virginia Banks for Small Business Browse All Business Loan Sources for Virginia
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