Child Day Care Services Small Business Loans

With these small business loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $565,000 was given to an Ohio entrepreneur in 2004.

Getting a small business loan in Morrow, Ohio was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Spring Valley Bank, operating out of Wyoming, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
MORROW, OH 45152

SBA Loan Lender

SPRING VALLEY BANK
1206 SPRINGFIELD PIKE
WYOMING, OH 45215

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

2/6/2004

Loan Approval Gross Amount

$565,000

Loan Approval from the SBA

Of the total $565,000 loan amount, the SBA guaranteed $423,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

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 Spring Valley Bank 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:

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Best Wyoming, Ohio Banks for Small Business

Getting an SBA Loan in Ohio