Daycare Expands With A Short Term Loan
Short Term Loan Daycare Expands With A Short Term Loan
Author: Casey Marie Long
Date posted: 09.20.22

In late 2021, a Texas daycare center was quickly getting back on its feet after dealing with variable enrollment for two years during COVID. Though the PPP program had helped meet operational costs during the pandemic, several maintenance issues had been neglected. The owners found themselves needing some repairs and new air, which would cost $45,000. Their state’s childcare licensing department required them to maintain the building and operation in pristine condition.

Sarah, the center’s director, emphasizes the short-term loan as a lifeline, stating, “Without the loan, we would have had to close our doors. This loan truly helped us regain stability during challenging times.”

Moreover, the center stands among numerous small businesses, operational amidst the pandemic, thanks to short-term loans.

Furthermore, banks and financial institutions commonly provide these loans for rapid cash injection. Typically, loan durations range from six months to three years, based on the business’s situation.

Daycare Expands With A Short Term Loan

The interest rates on these loans are typically higher than those on traditional loans; however, they can serve as a lifesaver for businesses grappling to meet their financial obligations.

Upon completing their application, the business successfully secured the loan and received funds within three days. These funds were promptly deposited into their bank account, enabling them to swiftly settle payments with their vendors. With the necessary updates completed, the center obtained licensing approval for reopening and recommenced their caregiving services.

The application process was painless and required minimal documentation from the business owners. They had to allow the lender to run a credit check and provide a few months of bank statements.

If you’re a small business owner currently facing financial difficulties due to the pandemic, it’s crucial to take proactive steps. Don’t hesitate; instead, reach out to your bank or explore options with other lenders. This approach will enable you to determine if you qualify for a short-term loan, which could potentially provide the lifeline your business needs to weather the storm. Furthermore, exploring this option enables you to access immediate funds, mitigating potential disruptions and ensuring operational continuity. It’s essential to recognize that this proactive step could play a pivotal role in safeguarding your business’s stability and facilitating its path toward recovery and future success.

Daycare Expands With A Short Term Loan
About The Author | Casey Marie Long

Casey has 12 years of technical writing experience. She is also a CPA and bookkeeper. Casey graduated from the University of St. Thomas (Minnesota) with a B.A. in mathematics and currently resides in San Diego, CA.

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