Child Day Care Services Bank Loans

With these bank loans for child day care services, the SBA guarantees the lender that the loan will be repaid. This child day care services loan for $267,000 was given to a Minnesota entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Woodbury, Minnesota was able to borrow $267,000 from Frandsen Bank & Trust. The SBA made the loan possible by guaranteeing $200,250 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
WOODBURY, MN 55125

SBA Loan Lender

FRANDSEN BANK & TRUST
2001 W BROADWAY AVE
FOREST LAKE, MN 55025

This lender issued this SBA bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

1/26/2007

Loan Approval Gross Amount

$267,000

Loan Approval from the SBA

Of the total $267,000 loan amount, the SBA guaranteed $200,250.

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 43 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Frandsen Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Role of Business Plan When Raising Money

SBA Banks in Forest Lake, Minnesota

Minnesota SBA 7A Lenders