Loan to Buy Goddard Early Learning Center Franchise Issued By Pnc Bank, National Association

Need money to invest in a Goddard Early Learning Center franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Wall (br. P.O.), New Jersey needed money to invest in a Goddard Early Learning Center franchise back in 2001. Pnc Bank, National Association issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

THE GODDARD SCHOOL
WALL (BR. P.O.), NJ 07719

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
675 FRANKLIN BLVD
SOMERSET, NJ 08873

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

10/12/2001

Loan Approval Gross Amount

$460,000

Loan Approval from the SBA

Of the total $460,000 loan amount, the SBA guaranteed $345,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Goddard Early Learning Center franchise. At the time of the loan, the company had 25 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 25 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Raising Venture Capital

Best Banks for Small Business in Somerset, New Jersey

SBA Lenders in New Jersey