During the last recession, the childcare center industry was hit hard and lots of childcare centers were closed down. Below is the number of SBA 7(a) loans to childcare businesses that were charged off by lenders. These charge-offs were from SBA 7(a) loans issued since 2000. The number of bank charge-offs for childcare center loans is down considerably from the peak in 2010.
|Year||# Charged off by Lenders|
Even though the childcare industry in general is doing well, there are still a number of bank foreclosures of childcare centers.
|Amount of loan||# Charged off by Lenders|
|$0 to $100k||870|
|$100k to $250k||215|
|$250k to $500k||142|
|$500k to $1m||132|
|$1m to $2m||68|
|$2m to $3m||1|
Most of the SBA 7(a) loans for childcare centers that have been charged off are the smaller ones.