Raising Money for Child Day Care Services

With these bank loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $75,000 was given to a Massachusetts entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Natick, Massachusetts was able to borrow $75,000 from Middlesex Savings Bank. The SBA made the loan possible by guaranteeing $63,750 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
NATICK, MA 01760

SBA Loan Lender

MIDDLESEX SAVINGS BANK
899 EDGELL RD
FRAMINGHAM, MA 01701

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

9/16/2002

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $75,000. How would you spend $75,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Strategic Investors

SBA Participating Banks in Framingham, Massachusetts

Massachusetts SBA 7A Banks