- An operator of a successful daycare center in the Deep South wanted to open another location and needed a small business loan to purchase a building, renovate it, and buy the necessary furnishings and equipment.
- Due to the industry type and the dependence on subsidized programs for revenue, she was unable to secure traditional financing.
- A local referral partner sent the deal to CRF, knowing our commitment to small business loans that create high community impact.
- After careful analysis, CRF found a history of positive margins for the current daycare center, extensive owner experience in the childcare industry, and projections that demonstrated adequate cash flow and debt service coverage.
- CRF was able to provide an SBA 7(a) loan for slightly less than $800,000.
- A minority- and woman-owned business is opening in a low-income community.
- The daycare center is projected to provide 22 jobs.
CCF offers SBA 7(a) loans ranging from $50,000 – $4,000,000 for owner-occupied real estate and leasehold improvements, business equipment, permanent working capital, and refinancing existing debt.