Loan to Buy Children's Lighthouse Franchise Issued By Magnet Bank

Need a loan to purchase a Children's Lighthouse franchise? Magnet Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Children's Lighthouse franchise? If so, here's a 2008 SBA franchise loan that you should know about. Magnet Bank was the lender and the entrepreneur was based in Little Elm, Texas.

SBA Loan Borrower

CHILDRENS LIGHTHOUSE-LITTLE EL
LITTLE ELM, TX 75068

SBA Loan Lender

MAGNET BANK
2825 E COTTONWOOD PKWY, STE,
SALT LAKE CITY, UT 84121

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

2/22/2008

Loan Approval Gross Amount

$1,882,000

Loan Approval from the SBA

Of the total $1,882,000 loan amount, the SBA guaranteed $1,411,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Children's Lighthouse franchise. At the time of the loan, the company had 32 employees. The SBA loan application for the borrower indicated that the loan would help generate 30 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Magnet Bank and they will explain how you can get an SBA loan for your company.

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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