Getting an SBA Loan for Child Day Care Services

With these commercial loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $59,500 was given to an Oklahoma entrepreneur in 2007.

Getting a small business loan in Watonga, Oklahoma was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from International Bank Of Commerce, operating out of Oklahoma City, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
WATONGA, OK 73772

SBA Loan Lender

INTERNATIONAL BANK OF COMMERCE
3601 NW 63RD ST
OKLAHOMA CITY, OK 73116

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

5/24/2007

Loan Approval Gross Amount

$59,500

Loan Approval from the SBA

Of the total $59,500 loan amount, the SBA guaranteed $29,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Watonga or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Microlending as a Small Business Funding Source

SBA 7A Banks in Oklahoma City, Oklahoma

Where to Get an SBA Loan Oklahoma