Texas Entrepreneur Secures Financing to Buy Kids R Kids Franchise

Need money to invest in a Kids R Kids franchise? Compass Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Kids R Kids franchise shouldn't be overly burdensome. In 2000, Compass Bank issued an SBA franchise loan to an entrepreneur in San Antonio, Texas. Because Kids R Kids was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

KIDS R' KIDS #15
SAN ANTONIO, TX 78240

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

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

8/30/2000

Loan Approval Gross Amount

$1,400,000

Loan Approval from the SBA

Of the total $1,400,000 loan amount, the SBA guaranteed $749,980.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Kids R Kids franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 21 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Compass Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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