Bank Of America Gives Business Loan to Child Day Care Services Company

Looking to get a Maine small business loan? This Maine entrepreneur got a small business loan, provided by a North Carolina bank that works with the SBA to help small business owners.

Getting a small business loan in Auburn, Maine was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
AUBURN, ME 04210

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

5/8/2000

Loan Approval Gross Amount

$19,000

Loan Approval from the SBA

Of the total $19,000 loan amount, the SBA guaranteed $9,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help retain 20 existing jobs.

Getting an SBA Loan For Your Business

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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