Elite Performing Arts Center
Elite Performing Arts Center, located in Scotch Plains, New Jersey, operates in the dance companies industry (NAICS 711120). The business was approved for an SBA 504 loan of $1,510,000 through Empire State Certified Development Corporation, with Provident Bank as the lender, to finance real estate or equipment, with an approval date of June 24, 2026.
SBA 504 loan, approved Jun 24, 2026
$1,510,000 SBA portionCDC: Empire State Certified Development Corporation25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $1,510,000
- Bank portion
- $1,838,000
- Estimated project size
- $3,720,000 (estimated)
- Estimated owner equity
- $372,000 (estimated, about 10% of the project)
- Bank lender
- Provident Bank, Jersey City, NJ
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- June 24, 2051 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 711120, Dance Companies
- Project location
- Union County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-7
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Dance Companies: $1,558,167.
- Average expansion loan in New Jersey: $2,533,058.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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