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 $519,000 was given to a Tennessee entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Franklin, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was The Bank Of Nashville, based in Nashville, Tennessee.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
FRANKLIN, TN 37064

SBA Loan Lender

THE BANK OF NASHVILLE
401 CHURCH ST L&C TOWER
NASHVILLE, TN 37219

This SBA loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

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

6/19/2006

Loan Approval Gross Amount

$519,000

Loan Approval from the SBA

Of the total $519,000 loan amount, the SBA guaranteed $389,250.

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 21 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $519,000. How would you spend $519,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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Tennessee SBA Bank Lenders