Financing for Child Day Care Services

Looking for loans for child day care services? Talk to a banker who works with the SBA. This $401,000 child day care services loan was issued by a New Jersey bank.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Commerce Bank/north, out of Ramsey, New Jersey. The loan was granted and they received $401,000 to help grow their Hoboken, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
HOBOKEN, NJ 07030

SBA Loan Lender

COMMERCE BANK/NORTH
1100 LAKE ST
RAMSEY, NJ 07446

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA 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

1/13/2005

Loan Approval Gross Amount

$401,000

Loan Approval from the SBA

Of the total $401,000 loan amount, the SBA guaranteed $300,750.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commerce Bank/north and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding - How to Borrow Money

Who Lends Money to Small Businesses in Ramsey, New Jersey

Getting a Business Loan in New Jersey