Main Street Registry

Bright Start Learning Academy LLC

Roseland, NJ · Child Care Services · NAICS 624410

Bright Start Learning Academy LLC is located in Roseland, NJ, and the SBA lists its industry as Child Care Services. It was approved for an SBA 7(a) loan of $685,000 for a change of ownership on July 12, 2024.

SBA 7(a) loan, change of ownership, approved Jul 12, 2024

Gross approval
$685,000
SBA-guaranteed amount
$513,750 (75% of the approval)
Lender
Wilmington Savings Fund Society FSB, Wilmington, DE
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
8 years, 6 months (102 months)
Estimated maturity
January 12, 2033 (estimated, approval date plus term)
Estimated monthly payment
$10,180 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 2, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
14
Business type
Corporation
NAICS
624410, Child Care Services
Project location
Essex County, NJ
SBA district office
New Jersey District Office
Congressional district
NJ-11
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in New Jersey