Commercial Loans 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 $210,200 was given to a South Carolina entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Westville, South Carolina was able to borrow $210,200 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $157,650 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
WESTVILLE, SC 29175

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

4/22/2004

Loan Approval Gross Amount

$210,200

Loan Approval from the SBA

Of the total $210,200 loan amount, the SBA guaranteed $157,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The loan application indicated that the loan would help generate 1 new job and retain 8 existing jobs.

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

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

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.

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