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Lu's Garden Childcare and Learning Center LLC

Crete, IL · Child Care Services · NAICS 624410

Lu's Garden Childcare and Learning Center LLC is a child care services business in Crete, Illinois, classified under NAICS code 624410. The business was financed with an SBA 7(a) loan for a change of ownership of $881,000 through lender Busey Bank, with an approval date of September 23, 2026.

SBA 7(a) loan, change of ownership, approved Sep 23, 2026

$881,000 approvedLender: Busey Bank25 years termCommitted, not fully disbursedLoan details
Gross approval
$881,000
SBA-guaranteed amount
$660,750 (75% of the approval)
Lender
Busey Bank, Champaign, IL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.25%, variable
Term
25 years (300 months)
Estimated maturity
September 23, 2051 (estimated, approval date plus term)
Estimated monthly payment
$7,545 Estimated payment at the initial rate over the full term; actual terms vary.
Loan status
Committed, not fully disbursed
Jobs supported
10
Business type
Corporation
NAICS
624410, Child Care Services
Project location
Will County, IL
SBA district office
Illinois District Office
Congressional district
IL-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 33% of acquisition loans in Child Care Services on this site.
  • Average acquisition loan in Child Care Services: $1,662,827.
  • Average acquisition loan in Illinois: $1,796,780.

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