New Jersey Entrepreneur Secures Financing to Buy Goddard Early Learning Center Franchise

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

Getting money to buy a Goddard Early Learning Center franchise shouldn't be overly burdensome. In 2003, Pnc Bank, National Association issued an SBA franchise loan to an entrepreneur in Wall (br. P.O.), New Jersey. Because Goddard Early Learning Center was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

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

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

5/27/2003

Loan Approval Gross Amount

$1,260,000

Loan Approval from the SBA

Of the total $1,260,000 loan amount, the SBA guaranteed $681,987.

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.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

Alternative Financing

Where to Get an SBA Loan in Somerset, New Jersey

Getting an SBA Loan in New Jersey