Child Day Care Services Bank Loans

With 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 $8,000 was given to a North Dakota entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in Towner, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Western State Bank, based in Towner, North Dakota.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
TOWNER, ND 58788

SBA Loan Lender

WESTERN STATE BANK
MAIN ST
TOWNER, ND 58788

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

10/27/2000

Loan Approval Gross Amount

$8,000

Loan Approval from the SBA

Of the total $8,000 loan amount, the SBA guaranteed $6,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Western State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Western State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Accountant's Role in Securing Financing

SBA Participating Banks in Towner, North Dakota

North Dakota SBA Banks