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December 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Resource Bank Virginia Beach Business Loans > Child Day Care Services Loan | ||||
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Chesapeake, Virginia Bank for SBA Loans
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Raising Money for Child Day Care ServicesWith 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 $325,000 was given to a Virginia entrepreneur in 2003. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Resource Bank, out of Virginia Beach, Virginia. The loan was granted and they received $325,000 to help grow their Chesapeake, Virginia business. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender RESOURCE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 8/6/2003 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $243,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 9 new jobs and retain 5 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Resource Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Resource 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: Obtaining Funding From a Venture Capitalist SBA Banks in Virginia Beach, Virginia
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