Long-time Lemonade Day patron sponsor First United Bank will host the fourth annual Bank Loan Day on Thursday, April 13th from 4-6pm, at their 5802 4th Street (4th & Frankford) branch. The special event helps area youth secure the funding they need to start, own and operate their very own business – a lemonade stand!
Prior to Bank Loan Day, Mark Bain, Scott Fagin, Amy Punchard and other First United Bank leaders have been actively training young entrepreneurs about financial literacy and business plans via school assemblies as part of LEMON U.
CEO Mark Bain’s “Lemons to Gold” video can be found here:
https://www.youtube.com/watch?v=Y8olEg_vf_M
“Bank Loan Day is an opportunity for young entrepreneurs in Lubbock to bring a completed business plan for
their lemonade stand to our bank, speak with a loan officer, and apply for a small business loan,” noted Bain.
“We love this event and look forward to it every year because it truly empowers these kids to learn where money comes from, how to work for it, spend some, save some and share some.”
Each applicant, one per family is preferred, can receive up to $40.00. The most important thing for applicants
to bring to Bank Loan Day is a business plan and the completed loan application. Templates are available on
the Lubbock Lemonade Day website:
Loan Application – http://lubbock.lemonadeday.org/wpcontent/uploads/sites/42/2014/03/LD_Forms_LoanApplication.pdf
Loan Agreement – http://lubbock.lemonadeday.org/wpcontent/uploads/sites/42/2014/04/LD_Forms_LoanAgreement.pdf
Bank Loan Day uses lessons on preparing a business plan, asking for a loan, paying a small fee ($2) and
paying the loan back on time (May 12). It is a real-world experience designed to teach children about the
importance of banking to all entrepreneurs—even young ones opening lemonade stands!
Visit http://lubbock.lemonadeday.org and like Lubbock Lemonade Day on all of our social media platforms for
more information.
(News release from Landtroop Strategies)