Hanover, MD Entrepreneur Gets SBA Loan to Buy Goddard Early Learning Center Franchise

Need money to purchase a Goddard Early Learning Center franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Goddard Early Learning Center franchise? If so, here's a 2004 SBA franchise loan that you should know about. Wachovia Sba Lending, Inc. was the lender and the entrepreneur was based in Hanover, Maryland.

SBA Loan Borrower

GODDARD SCHOOL
HANOVER, MD 21076

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

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

624110 - Child and Youth Services

Loan Approval Date

9/7/2004

Loan Approval Gross Amount

$1,990,000

Loan Approval from the SBA

Of the total $1,990,000 loan amount, the SBA guaranteed $1,492,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Goddard Early Learning Center franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 10 new jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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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