Getting an SBA Loan for Child Day Care Services

Looking for commercial loans for child day care services? The SBA may be the answer. This $611,000 child day care services loan was issued by a District of Columbia bank.

Getting a small business loan in Conyers, Georgia was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Loans From Old Closed Lenders, operating out of Washington, District of Columbia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
CONYERS, GA 30013

SBA Loan Lender

LOANS FROM OLD CLOSED LENDERS
409 3RD STREET S.W., SUITE 83
WASHINGTON, DC 20416

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

7/30/2001

Loan Approval Gross Amount

$611,000

Loan Approval from the SBA

Of the total $611,000 loan amount, the SBA guaranteed $458,250.

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 15 employees. The SBA loan application for the borrower indicated that the loan would help retain 15 existing jobs.

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

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

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 Loans From Old Closed Lenders 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:

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SBA Participating Banks in Washington, District of Columbia

Find an SBA Lender in District of Columbia