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The Farmhouse Early Learning and Development Center, LLC

Bloomington, IL · Child Care Services · NAICS 624410

The Farmhouse Early Learning and Development Center, LLC is a child care services business in Bloomington, Illinois, classified under NAICS code 624410. The company financed real estate or equipment through an SBA 504 loan with a SBA portion of $1,352,000, approved on September 17, 2024, through First Security Bank and SomerCor 504, Inc.

SBA 504 loan, approved Sep 17, 2024

$1,352,000 SBA portionCDC: SomerCor 504, Inc.25 years termApproved, not yet fundedLoan details
SBA (CDC) portion
$1,352,000
Bank portion
$1,650,000
Estimated project size
$3,335,556 (estimated)
Estimated owner equity
$333,556 (estimated, about 10% of the project)
Bank lender
First Security Bank, Mackinaw, IL
CDC
SomerCor 504, Inc.
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
September 17, 2049 (estimated, approval date plus term)
Loan status
Approved, not yet funded
Jobs supported
24
Business type
Corporation
NAICS
624410, Child Care Services
Project location
Mclean County, IL
SBA district office
Illinois District Office
Congressional district
IL-13
Collateral
Yes

Estimated share of project by source

Bank 49% SBA (CDC) 41% Owner 10%

  • Larger than 25% of expansion loans in Child Care Services on this site.
  • Average expansion loan in Child Care Services: $1,977,874.
  • 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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Same industry in Illinois