Main Street Registry

The Goddard School of Elgin

Elgin, IL · Child Care Services · NAICS 624410

The Goddard School of Elgin is a child care services business located in Elgin, Illinois, classified under NAICS 624410. The business financed real estate or equipment through an SBA 504 loan with an SBA portion of $1,013,000, approved on February 23, 2026, with Bank of America, National Association as the bank lender and SomerCor 504, Inc. as the certified development company.

SBA 504 loan, approved Feb 23, 2026

$1,013,000 SBA portionCDC: SomerCor 504, Inc.25 years termApproved, not yet fundedLoan details
SBA (CDC) portion
$1,013,000
Bank portion
$1,230,000
Estimated project size
$2,492,222 (estimated)
Estimated owner equity
$249,222 (estimated, about 10% of the project)
Bank lender
Bank of America, National Association, Charlotte, NC
CDC
SomerCor 504, Inc.
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
February 23, 2051 (estimated, approval date plus term)
Loan status
Approved, not yet funded
Jobs supported
22
Business type
Corporation
NAICS
624410, Child Care Services
Project location
Kane County, IL
SBA district office
Illinois District Office
Congressional district
IL-6
Collateral
Yes

Estimated share of project by source

Bank 49% SBA (CDC) 41% Owner 10%

  • Average expansion loan in Child Care Services: $1,977,874.
  • Average expansion loan in Illinois: $2,310,827.

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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Same industry in Illinois