Small Business Loans for Child Day Care Services
Looking for small business loans for child day care services? Talk to a banker who works with the SBA. This $40,000 child day care services loan was issued by a Massachusetts bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springfield, Massachusetts was able to borrow $40,000 from Hampden Bank. The SBA made the loan possible by guaranteeing $34,000 of this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: CHILD DAY CARE SERVICES
SPRINGFIELD, MA 01118
SBA Loan Lender
HAMPDEN BANK
19 HARRISON AVE
SPRINGFIELD, MA 01103
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
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
1/2/2002
Loan Approval Gross Amount
$40,000
Loan Approval from the SBA
Of the total $40,000 loan amount, the SBA guaranteed $34,000.
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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Hampden Bank 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:
Small Business Credit Cards
Find an SBA Lender in Springfield, Massachusetts
SBA Lenders in Massachusetts