Borrowing 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 $89,000 was given to a Connecticut entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in North Windham, Connecticut was able to borrow $89,000 from Newalliance Bank. The SBA made the loan possible by guaranteeing $71,200 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
NORTH WINDHAM, CT 06256

SBA Loan Lender

NEWALLIANCE BANK
923 MAIN ST
MANCHESTER, CT 06040

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

7/6/2000

Loan Approval Gross Amount

$89,000

Loan Approval from the SBA

Of the total $89,000 loan amount, the SBA guaranteed $71,200.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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