Spanish For Fun!, Inc.
Spanish For Fun!, Inc. is located in Durham, NC, and the SBA lists its industry as Elementary and Secondary Schools. It was approved for an SBA 504 loan ($2,747,000 SBA portion) on December 27, 2024 to finance real estate or equipment.
SBA 504 loan, approved Dec 27, 2024
- SBA (CDC) portion
- $2,747,000
- Bank portion
- $3,355,000
- Estimated project size
- $6,780,000 (estimated)
- Estimated owner equity
- $678,000 (estimated, about 10% of the project)
- Bank lender
- HomeTrust Bancshares, Inc., Asheville, NC
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- December 27, 2049 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 24
- Business type
- Corporation
- NAICS
- 611110, Elementary and Secondary Schools
- Project location
- Durham County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-2
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 73% 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 North Carolina: $2,167,577.
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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