Commercial Loans for Child Day Care Services

With these commercial loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $150,000 was given to a Washington entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Coupeville, Washington was able to borrow $150,000 from Whidbey Island Bank. The SBA made the loan possible by guaranteeing $127,500 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
COUPEVILLE, WA 98239

SBA Loan Lender

WHIDBEY ISLAND BANK
1800 S BURLINGTON BLVD
BURLINGTON, WA 98233

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

10/4/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Strategic Investors

Where to Get an SBA Loan in Burlington, Washington

SBA Lenders in Washington