Financing for Child and Youth Services

With these loans for child and youth services, the SBA guarantees the lender that the loan will be repaid. This child and youth services loan for $86,200 was given to a Texas entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Round Rock, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Wells Fargo Bank, based in Sioux Falls, South Dakota.

SBA Loan Borrower

COMPANY TYPE: CHILD AND YOUTH SERVICES
ROUND ROCK, TX 78664

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624110 - Child and Youth Services

Loan Approval Date

10/21/2002

Loan Approval Gross Amount

$86,200

Loan Approval from the SBA

Of the total $86,200 loan amount, the SBA guaranteed $73,270.

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 5 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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