New Jersey Entrepreneur Secures Financing to Buy The Learning Experience Franchise

Need a loan to invest in a Learning Experience franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bayville, New Jersey needed money to invest in a The Learning Experience franchise back in 2006. Comerica Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

THE LEARNING EXPERIENCE
BAYVILLE, NJ 08721

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

11/29/2006

Loan Approval Gross Amount

$304,800

Loan Approval from the SBA

Of the total $304,800 loan amount, the SBA guaranteed $228,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a The Learning Experience franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 13 new jobs and retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

The Learning Experience

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SBA Approved Banks in Dallas, Texas

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