Main Street Registry

Kiddie Academy of Vernon Hills

Vernon Hills, IL · Child Care Services · NAICS 624410

Kiddie Academy of Vernon Hills is a child care services business in Vernon Hills, Illinois, classified under NAICS code 624410. It financed real estate or equipment through an SBA 504 loan with a $2,376,000 SBA portion, approved on May 6, 2025, with Wells Fargo Bank, N.A. as the lender and SomerCor 504, Inc. as the certified development company.

SBA 504 loan, approved May 6, 2025

$2,376,000 SBA portionCDC: SomerCor 504, Inc.25 years termApproved, not yet fundedLoan details
SBA (CDC) portion
$2,376,000
Bank portion
$2,970,000
Estimated project size
$5,940,000 (estimated)
Estimated owner equity
$594,000 (estimated, about 10% of the project)
Bank lender
Wells Fargo Bank, N.a., Minneapolis, MN
CDC
SomerCor 504, Inc.
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
May 6, 2050 (estimated, approval date plus term)
Loan status
Approved, not yet funded
Jobs supported
35
Business type
Corporation
NAICS
624410, Child Care Services
Project location
Lake County, IL
SBA district office
Illinois District Office
Congressional district
IL-10
Collateral
Yes

Estimated share of project by source

Bank 50% SBA (CDC) 40% Owner 10%

  • Larger than 72% of expansion loans in Child Care Services on this site.
  • 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