Kentucky Entrepreneur Secures Financing to Buy Goddard Early Learning Center Franchise

Borrowing money to buy a Goddard Early Learning Center franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Goddard Early Learning Center franchise is doable. In 2002, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Crestview Hills, Kentucky. Because Goddard Early Learning Center was registered with the SBA's registry of franchises, this Kentucky small business loan was issued on an expedited basis.

SBA Loan Borrower

GODDARD SCHOOL
CRESTVIEW HILLS, KY 41017

SBA Loan Lender

FIFTH THIRD BANK
8100 BURLINGTON PIKE
FLORENCE, KY 41042

When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program was created to provide speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

9/9/2002

Loan Approval Gross Amount

$282,500

Loan Approval from the SBA

Of the total $282,500 loan amount, the SBA guaranteed $211,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Goddard Early Learning Center franchise. At the time of the loan, the company had 24 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Fifth Third Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Fifth Third 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.

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