Raising Money for Child Day Care Services

Looking for business loans for child day care services? An SBA loan may be just what you've been looking for. This $71,000 child day care services loan was issued by an Ohio bank.

Getting a small business loan in Cleveland, Ohio was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Faith Community United Cu Inc., operating out of Cleveland, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
CLEVELAND, OH 44105

SBA Loan Lender

FAITH COMMUNITY UNITED CU INC.
3550 E 93RD ST
CLEVELAND, OH 44105

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

3/12/2007

Loan Approval Gross Amount

$71,000

Loan Approval from the SBA

Of the total $71,000 loan amount, the SBA guaranteed $60,350.

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 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.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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 - How to Borrow Money

SBA 7A Lenders in Cleveland, Ohio

SBA Ohio Lenders