Getting an SBA Loan for Child Day Care Services

With these SBA loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $104,000 was given to an Oklahoma entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Broken Arrow, Oklahoma was able to borrow $104,000 from Security Bank. The SBA made the loan possible by guaranteeing $88,400 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
BROKEN ARROW, OK 74012

SBA Loan Lender

SECURITY BANK
10727 E 51ST
TULSA, OK 74146

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

3/13/2003

Loan Approval Gross Amount

$104,000

Loan Approval from the SBA

Of the total $104,000 loan amount, the SBA guaranteed $88,400.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $104,000 loan. Remember, feel the fear, and do it anyway.

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:

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Oklahoma SBA 7A Banks