Child Day Care Services Small Business Loans

With these small business loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $260,000 was given to an Arkansas entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Sherwood, Arkansas, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Arkansas Capital Corporation, based in Little Rock, Arkansas.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
SHERWOOD, AR 72120

SBA Loan Lender

ARKANSAS CAPITAL CORPORATION
200 S. COMMERCE ST., SUITE 40
LITTLE ROCK, AR 72201

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

6/17/2003

Loan Approval Gross Amount

$260,000

Loan Approval from the SBA

Of the total $260,000 loan amount, the SBA guaranteed $195,000.

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 9 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Arkansas Capital Corporation so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

VC Firms on Twitter

Small Business Banks in Little Rock, Arkansas

Arkansas SBA 7A Lenders