Child Day Care Services Commercial Loans
With these commercial loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $107,000 was given to a Pennsylvania entrepreneur in 2005.
This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First Commonwealth Bank, out of Hollidaysburg, Pennsylvania. The loan was granted and they received $107,000 to help grow their Bellwood, Pennsylvania business.
SBA Loan Borrower
COMPANY TYPE: CHILD DAY CARE SERVICES
BELLWOOD, PA 16617
SBA Loan Lender
FIRST COMMONWEALTH BANK
RTE 220 & N JUNIATA ST
HOLLIDAYSBURG, PA 16648
This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
624410 - Child Day Care Services
Loan Approval Date
3/4/2005
Loan Approval Gross Amount
$107,000
Loan Approval from the SBA
Of the total $107,000 loan amount, the SBA guaranteed $90,950.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Commonwealth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Commonwealth Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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 Friends and Family Network
Who Lends Money to Small Businesses in Hollidaysburg, Pennsylvania
Pennsylvania SBA Bank Lenders