Heartfelt Impressions Learning Center LLC
Heartfelt Impressions Learning Center LLC is an elementary and secondary school located in Lake Orion, Michigan. The business financed real estate or equipment through an SBA 504 loan of $1,197,000, approved on October 4, 2023, with Oxford Bank as the lending bank and Great Lakes Commercial Finance as the certified development company.
SBA 504 loan, approved Oct 4, 2023
$1,197,000 SBA portionCDC: Great Lakes Commercial Finance25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,197,000
- Bank portion
- $1,326,404
- Estimated project size
- $2,803,782 (estimated)
- Estimated owner equity
- $280,378 (estimated, about 10% of the project)
- Bank lender
- Oxford Bank, Oxford, MI
- Processing method
- 504 Refinancing: refinances existing business debt
- Term
- 25 years (300 months)
- Estimated maturity
- October 4, 2048 (estimated, approval date plus term)
- First disbursement
- May 15, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 15
- Business type
- Corporation
- NAICS
- 611110, Elementary and Secondary Schools
- Project location
- Oakland County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-8
- Collateral
- Yes
Estimated share of project by source
Bank 47% SBA (CDC) 43% Owner 10%
- Larger than 10% of expansion loans in Elementary and Secondary Schools on this site.
- Average expansion loan in Elementary and Secondary Schools: $2,129,925.
- Average expansion loan in Michigan: $2,050,489.
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.
Is this your company? Claim or correct this listing. See Corrections.