How to Get a Loan for Child Day Care Services

With these SBA loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $245,000 was given to a Michigan entrepreneur in 2005.

Getting a small business loan in Saline, Michigan was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Ann Arbor Commerce Bank, operating out of Ann Arbor, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
SALINE, MI 48176

SBA Loan Lender

ANN ARBOR COMMERCE BANK
2950 STATE ST SOUTH
ANN ARBOR, MI 48104

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

2/1/2005

Loan Approval Gross Amount

$245,000

Loan Approval from the SBA

Of the total $245,000 loan amount, the SBA guaranteed $183,750.

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. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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