Raising Money 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 $795,000 was given to an Ohio entrepreneur in 2006.

Getting a small business loan in Boardman, Ohio was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank, operating out of Toledo, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
BOARDMAN, OH 44512

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
519 MADISON AVE
TOLEDO, OH 43604

This loan for a small business was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending background and a deep knowledge SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

12/13/2006

Loan Approval Gross Amount

$795,000

Loan Approval from the SBA

Of the total $795,000 loan amount, the SBA guaranteed $596,250.

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 14 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $795,000. How would you spend $795,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Toledo, Ohio

Getting an SBA Loan in Ohio