Getting an SBA Loan for Child Day Care Services

With these commercial loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $60,000 was given to an Indiana entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Peru, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was First Farmers Bank And Trust, based in Peru, Indiana.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
PERU, IN 46970

SBA Loan Lender

FIRST FARMERS BANK AND TRUST
120 S BROADWAY
PERU, IN 46970

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

3/14/2006

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 20 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 First Farmers Bank And Trust 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:

Business Line of Credit

Best Banks for Small Business in Peru, Indiana

Where to Get an SBA Loan Indiana