SOUTHAMPTON, PA — Quaint Oak Bank said it recently extended a Small Business Administration-backed loan to finance the relocation and expansion of a Chicago child care operator, highlighting its use of government-guaranteed lending for projects with limited collateral.
The bank said the financing supported Krystal Watson, owner of Jaylynd’s Voice Inc., doing business as Taylor Made Scholars, in moving from a church-based space to a larger storefront and funding leasehold improvements tied to the expansion.
The company said the project required an SBA loan structure because leasehold improvements typically provide limited collateral support, particularly for businesses scaling operations.
Steve Willard, the bank’s SBA team lead, said the program allowed the lender to structure financing aligned with the project’s requirements, noting that such expansions can fall outside conventional lending parameters.
Watson had previously self-funded the business and did not have an established banking relationship prior to the transaction, the bank said.
Quaint Oak Bank, an SBA Preferred Lender, provides financing to small businesses nationwide and said such loans can support expansion projects that might not qualify under traditional underwriting standards.
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