Getting an SBA Loan for Child Day Care Services

With these SBA loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $105,000 was given to a Massachusetts entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in Foxboro, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Middlesex Savings Bank, based in Hopkinton, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
FOXBORO, MA 02035

SBA Loan Lender

MIDDLESEX SAVINGS BANK
10 MAIN ST
HOPKINTON, MA 01748

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

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

9/19/2000

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $84,000.

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 5 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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