Child Day Care Services Small Business Loans

With 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 $208,200 was given to a Rhode Island entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Warwick (rr Name Apponaug), Rhode Island was able to borrow $208,200 from Benjamin Franklin Bank. The SBA made the loan possible by guaranteeing $156,150 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
WARWICK (RR NAME APPONAUG), RI 02889

SBA Loan Lender

BENJAMIN FRANKLIN BANK
58 MAIN ST
FRANKLIN, MA 02038

This lender provides SBA loan for small businesses 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

6/7/2006

Loan Approval Gross Amount

$208,200

Loan Approval from the SBA

Of the total $208,200 loan amount, the SBA guaranteed $156,150.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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:

Attracting Investors

SBA 7A Lenders in Franklin, Massachusetts

Massachusetts SBA 7A Lenders