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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Child Day Care Services Loan | ||||
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SBA Lender Galveston Texas
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Where to Get Capital for Child Day Care ServicesLooking for SBA loans for child day care services? Talk to a banker who works with the SBA. This $438,700 child day care services loan was issued by a Nevada bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Galveston, Texas was able to borrow $438,700 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $329,025 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender WASHINGTON MUTUAL BANK 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 1/26/2001 Loan Approval Gross Amount $438,700 Loan Approval from the SBA Of the total $438,700 loan amount, the SBA guaranteed $329,025. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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. Related Links: Dealing With Venture Capitalists
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