Business Loans for Child Day Care Services

Looking for business loans for child day care services? Try the SBA. This $75,000 child day care services loan was issued by a New Jersey bank.

This small business knew how to go about getting a business bank loan. Based in South Orange, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was City National Bank - New Jersey, based in Newark, New Jersey.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
SOUTH ORANGE, NJ 07079

SBA Loan Lender

CITY NATIONAL BANK - NEW JERSEY
241 SPRINGFIELD AVE
NEWARK, NJ 07103

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

1/31/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from City National Bank - New Jersey 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:

Obtaining Funding - Getting Venture Capital

Small Bank Loans in Newark, New Jersey

New Jersey SBA Banks