Primrose School of Bolingbrook
Primrose School of Bolingbrook is an elementary and secondary school located in Bolingbrook, Illinois. The company financed real estate or equipment through an SBA 504 loan of $3,207,000, with Live Oak Banking Company as the bank partner and SomerCor 504, Inc. as the certified development company, approved on April 23, 2025.
SBA 504 loan, approved Apr 23, 2025
$3,207,000 SBA portionCDC: SomerCor 504, Inc.25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $3,207,000
- Bank portion
- $3,920,110
- Estimated project size
- $7,919,011 (estimated)
- Estimated owner equity
- $791,901 (estimated, about 10% of the project)
- Bank lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- April 23, 2050 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 30
- Business type
- Corporation
- NAICS
- 611110, Elementary and Secondary Schools
- Project location
- Will County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-11
- Collateral
- Yes
Estimated share of project by source
Bank 50% SBA (CDC) 40% Owner 10%
- Larger than 87% 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 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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