Bank Loans for Child Day Care Services

With 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 $96,000 was given to a Washington entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in University Place, Washington, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Plaza Bank, based in Seattle, Washington.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
UNIVERSITY PLACE, WA 98466

SBA Loan Lender

PLAZA BANK
1420 FIFTH AVE, STE 3700
SEATTLE, WA 98101

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

12/18/2007

Loan Approval Gross Amount

$96,000

Loan Approval from the SBA

Of the total $96,000 loan amount, the SBA guaranteed $81,600.

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 14 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 13 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Plaza 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.

Related Links:

Startup Funding Tip

Small Business Banks in Seattle, Washington

Washington SBA Bank Lenders