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November 22, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Indiana, Business Loans > Indiana First Savings Bank Indiana Business Loans > Child Day Care Services Loan | ||||
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Advice for Small Businesses On Getting a Loan
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How to Get a Loan for Child Day Care ServicesLooking for commercial loans for child day care services? An SBA loan may be just what you've been looking for. This $28,200 child day care services loan was issued by a Pennsylvania bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Blairsville, Pennsylvania was able to borrow $28,200 from Indiana First Savings Bank. The SBA made the loan possible by guaranteeing $23,970 of this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender INDIANA FIRST SAVINGS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. 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 6/8/2001 Loan Approval Gross Amount $28,200 Loan Approval from the SBA Of the total $28,200 loan amount, the SBA guaranteed $23,970. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: SBA 7A Banks for Indiana, Pennsylvania Loans
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