Borrowing Money for Child Day Care Services

With these loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $40,000 was given to a Nebraska entrepreneur in 2004.

Getting a small business loan in Grand Island, Nebraska was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Heritage Bank, operating out of Wood River, Nebraska. Here are the details on this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
GRAND ISLAND, NE 68803

SBA Loan Lender

HERITAGE BANK
110 E 9TH ST
WOOD RIVER, NE 68883

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

6/1/2004

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Heritage Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Role of Business Plan When Raising Money

SBA 7A Banks for Wood River, Nebraska Loans

Where to Get an SBA Loan Nebraska