Borrowing Money for Child Day Care Services

Looking for loans for child day care services? Try the SBA. This $195,000 child day care services loan was issued by a Michigan bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grand Rapids, Michigan was able to borrow $195,000 from Mercantile Bank Of Michigan. The SBA made the loan possible by guaranteeing $146,250 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
GRAND RAPIDS, MI 49504

SBA Loan Lender

MERCANTILE BANK OF MICHIGAN
310 LEONARD ST NW
GRAND RAPIDS, MI 49504

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

3/22/2005

Loan Approval Gross Amount

$195,000

Loan Approval from the SBA

Of the total $195,000 loan amount, the SBA guaranteed $146,250.

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 20 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

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Who Lends Money to Small Businesses in Grand Rapids, Michigan

Michigan SBA 7A Banks