How to Get a 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 $181,500 was given to a Washington entrepreneur in 2004.

Getting a small business loan in Everett, Washington was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from City Bank, operating out of Lynnwood, Washington. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
EVERETT, WA 98508

SBA Loan Lender

CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087

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

5/14/2004

Loan Approval Gross Amount

$181,500

Loan Approval from the SBA

Of the total $181,500 loan amount, the SBA guaranteed $136,125.

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 7 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

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