Including both 7a and 504 loans, there were 24 SBA loans for a total of $29.4 million given to childcare centers in GEORGIA in fiscal year 2014. The largest loan was $3,615,000 to a childcare business in Atlanta, and the smallest was a $75,000 loan. For the 7a loans, the initial interest rates ranged from a high of 6% to a low of 4.75%. For the loans involving real estate, most of the loans were for 25 years while a small minority of the loans were for 20 years.
NATIONALLY, there were $370 million of SBA 7a loans given to childcare centers in fiscal year 2014. Of these, there were 299 SBA loans of $200k or more, and 257 loans for less than $200k. For the SBA loans of $200k and more,the vast majority of loans had interest rates of 4.75% to 6%. There were only 24 loans with an interest rate under 4.75%,… with the lowest rate of 2.75% for a $670k loan for a childcare center in Columbus, Ohio.
NATIONALLY, there were 178 SBA 504 loans to childcare centers with a total loan amount of $174.5 million. The interest rate for the SBA portion of the loan for all loans was 3.25%.
According to the SBA, in GEORGIA, there were only 10 SBA loans to childcare centers that were charged-off by banks in 2014!
Below are the SBA loans to childcare centers in Georgia that were approved in fiscally year 2014. We eliminated the Borrower’s name from the database to preserve confidentiality.
Childcare Brokers knows SBA lending! If you are buying a childcare center and need a SBA loan, contact us.
