SBA 504 Loans for Preschools and Daycare Centers
Can Preschools and Day Care Centers Be Funded with SBA 504 Loans?
Child care is a huge industry in the US. It has become increasingly difficult for a single parent to earn enough to support an entire family, so more children are being placed in day care centers, or being enrolled in preschools when they come of age. Day care centers alone generated $53 billion in revenue in 2018, making this area prime for entrepreneurial expansion.
Finding the funding to expand your daycare center doesn’t have to be difficult— and the SBA 504 loan can be a great option to get the financing you need. SBA 504 loans can be used to fund the purchase of real estate, as well as the purchase or construction of buildings, and the retrofitting of existing buildings to suit your purpose. These loans can also give you the funding necessary to invest in important equipment, such as playground equipment, food service equipment, classroom equipment like tables and chairs, and more.
SBA 504 loans can be used to fund day care centers and preschools. However, the funds cannot be used for working capital, so supplementing with another business loan may be necessary.
We’re here to help you get the commercial financing you need. Simply fill out the form below for a risk-free consultation and a free SBA loan quote!