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November 14, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Fernandina Beach, Business Loans > First National Bank - Nassau Cnty Fernandina Beach Business Loans > Child Day Care Services Loan | ||||
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What Does It Take to Get a Business Loan in Savannah, Georgia?
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Child Day Care Services Bank LoansWith 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 $470,000 was given to a Georgia entrepreneur in 2003. This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First National Bank - Nassau Cnty, out of Fernandina Beach, Florida. The loan was granted and they received $470,000 to help grow their Savannah, Georgia business. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender FIRST NATIONAL BANK - NASSAU CNTY 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 6/27/2003 Loan Approval Gross Amount $470,000 Loan Approval from the SBA Of the total $470,000 loan amount, the SBA guaranteed $352,500. 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 17 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs. 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. 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 National Bank - Nassau Cnty 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: Obtaining Funding - How to Decide How Much to Raise Who Lends Money to Small Businesses in Fernandina Beach, Florida Where to Get an SBA Loan Florida
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