How to Get a Loan for Child Day Care Services

With these 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 $522,500 was given to a North Carolina entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in Nags Head, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Suntrust Bank, based in Atlanta, Georgia.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
NAGS HEAD, NC 27959

SBA Loan Lender

SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

11/19/2003

Loan Approval Gross Amount

$522,500

Loan Approval from the SBA

Of the total $522,500 loan amount, the SBA guaranteed $391,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower indicated that the loan would help retain 11 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $522,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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