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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Virginia Beach, Business Loans > Branch Bank & Trust Virginia Beach Business Loans > Child Day Care Services Loan | ||||
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Branch Bank & Trust Business Loans
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Small Business Loans for Child Day Care ServicesWith 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 $75,000 was given to a Virginia entrepreneur in 2001. Getting a small business loan in Virginia Beach, Virginia was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Branch Bank & Trust, operating out of Virginia Beach, Virginia. Here are the details on this Virginia small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender BRANCH BANK & TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending 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 10/19/2001 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Branch Bank & Trust 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: Accountant's Role in Securing Financing Banks in Virginia Beach, Virginia
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