Getting an SBA Loan for Child Day Care Services

With these business loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $243,000 was given to a Texas entrepreneur in 2007.

Getting a small business loan in Cleveland, Texas was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Fidelity Bank, operating out of Norcross, Georgia. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
CLEVELAND, TX 77327

SBA Loan Lender

FIDELITY BANK
3500 HOLCOMB BRIDGE RD
NORCROSS, GA 30092

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

7/31/2007

Loan Approval Gross Amount

$243,000

Loan Approval from the SBA

Of the total $243,000 loan amount, the SBA guaranteed $182,250.

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 SBA loan application for the borrower indicated that the loan would help generate 13 new jobs and retain 13 existing jobs.

Getting an SBA Loan For Your Business

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Fidelity Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Credit Cards

Good Banks for Small Business in Norcross, Georgia

Getting an SBA Loan in Georgia