Bank Loans for Child Day Care Services

Looking for bank loans for child day care services? The SBA may be the answer. This $5,000 child day care services loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pontiac, Michigan was able to borrow $5,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $4,250 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
PONTIAC, MI 48341

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business 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

4/1/2003

Loan Approval Gross Amount

$5,000

Loan Approval from the SBA

Of the total $5,000 loan amount, the SBA guaranteed $4,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Pontiac MI, you ought to talk with a local Pontiac SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pontiac businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Innovative Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Small Business Loan

SBA Approved Banks in Oakland, California

California SBA 7A Lenders