Lemonade Day & First United Bank host Bank Loan Day

Lemonade Day & First United Bank host Bank Loan Day

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LUBBOCK, Texas -

Before Lubbock's youngest entrepreneurs can make lemonade out of lemons, they need money to back their beverage businesses.

In preparation for Lemonade Day, First United Bank is giving these little business owners an opportunity to apply for a loan.

The kiddos go through the same loan process as adults, pitching their business plan to a loan officer, filling out applications, learning about interest and charged a fee to borrow. 

"This is just something that we've really gotten involved with and love what lemonade day stands for and really want to teach these kids how to be entrepreneurs, go out and make some money and a lot of fun doing so," Mark Bain, CEO of First United Bank said.

Applicants are given up to a $40 loan. Lemonade Day is Sat. May 5th. 

(Press release)

LUBBOCK, TX- Lubbock Lemonade Day veteran and long time sponsor, First United Bank, will be hosting the sixth annual Bank Loan Day on Thursday, April 19th from 4-6pm at their 4th and Frankford location. The event is for Lemonade Day participants who wish to take out the necessary funding to open and operate their very own lemonade business.

Leading up to Bank Loan Day, First United Bank has been speaking at area schools about financial literacy and encouraging participation in Lemonade Day. One of the fundamental lessons of starting a business includes finding an investor to help cover the upfront costs of starting a business. By participating in Bank Loan Day, local youth put these lessons into practice by making a business plan, meeting with a loan officer to discuss their ideas, and completing the loan application process.

“Bank Loan Day is one of our favorite events of the year,” noted Bank CEO Mark Bain. “To watch area youth jump into business, take a risk, make a plan, work hard and spend, save and most importantly share some of their profits is very rewarding for all of us here at the bank.”

This year, the loan applications will be provided by First United Bank - on site for convenience. To participate, each applicant (one allowed per stand) must fill out a completed business plan at First United Bank and get it approved by a loan officer in order to move forward with the loan application process. A $2.00 interest is added to each loan and each participant can receive up to $40.00. The loan is expected to be paid in full by Saturday, May 12th, one week after Lemonade Day.

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