Main Street Registry

The Little Bee's Childcare Corp.

Spring Lake Park, MN · Child Care Services · NAICS 624410

The Little Bee's Childcare Corp. is a child care services business in Spring Lake Park, Minnesota, classified under NAICS code 624410. It was financed with an SBA 7(a) loan for a change of ownership of $706,000, approved on December 19, 2023, through Old National Bank.

SBA 7(a) loan, change of ownership, approved Dec 19, 2023

$706,000 approvedLender: Old National Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$706,000
SBA-guaranteed amount
$529,500 (75% of the approval)
Lender
Old National Bank, Evansville, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.06%, fixed
Term
10 years (120 months)
Estimated maturity
December 19, 2033 (estimated, approval date plus term)
Estimated monthly payment
$8,966 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 25, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
624410, Child Care Services
Project location
Anoka County, MN
SBA district office
Minnesota District Office
Congressional district
MN-03
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 23% of acquisition loans in Child Care Services on this site.
  • Average acquisition loan in Child Care Services: $1,662,827.
  • Average acquisition loan in Minnesota: $1,482,119.

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 Minnesota