Louisville Commun Devel Bk SBA Loan to Child Day Care Services Company

An SBA loan from Louisville Commun Devel Bk typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Louisville, Kentucky business owner got a $70,000 loan.

Getting a small business loan in Louisville, Kentucky was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Louisville Commun Devel Bk, operating out of Louisville, Kentucky. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
LOUISVILLE, KY 40210

SBA Loan Lender

LOUISVILLE COMMUN DEVEL BK
2901 W BROADWAY
LOUISVILLE, KY 40211

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

10/19/2000

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $56,000.

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 4 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

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 Louisville Commun Devel Bk 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.

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