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November 21, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Kiddie Academy Of Lynbrook Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Lynbrook, NY Entrepreneur Gets SBA Loan to Buy Kiddie Academy FranchiseNeed a loan to purchase a Kiddie Academy franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Kiddie Academy franchise? If so, here's a 2001 SBA franchise loan that you should know about. Washington Mutual Bank was the lender and the entrepreneur was based in Lynbrook, New York. SBA Loan Borrower KIDDIE ACADEMY OF LYNBROOK SBA Loan Lender WASHINGTON MUTUAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 5/25/2001 Loan Approval Gross Amount $593,000 Loan Approval from the SBA Of the total $593,000 loan amount, the SBA guaranteed $444,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Kiddie Academy franchise. At the time of the loan, the company had 25 employees. This SBA loan request indicated that the funding would help create 25 new jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Kiddie Academy Domestic Franchising, LLC A Company That Helps Entrepreneurs SBA 7A Banks for Henderson, Nevada Loans
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