Knoxville, Tennessee Lender Lends Money to Child Day Care Services Company
Thinking about meeting with a Knoxville, Tennessee bank about an SBA loan? Here's one Ohio business loan, issued by a Knoxville bank, that was approved by the SBA.
Applying for an SBA loan with Community So. Bank D.B.A Commun worked out well for our friends at one local business in Newark, Ohio. They received an SBA loan for $594,000. Sweet!
SBA Loan Borrower
COMPANY TYPE: CHILD DAY CARE SERVICES
NEWARK, OH 43055
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
624410 - Child Day Care Services
Loan Approval Date
11/22/2005
Loan Approval Gross Amount
$594,000
Loan Approval from the SBA
Of the total $594,000 loan amount, the SBA guaranteed $445,500.
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 18 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Community So. Bank D.B.A Commun so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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