Main Street Registry

Forever Learning of South Gilbert, LLC

Gilbert, AZ · Elementary and Secondary Schools · NAICS 611110

Forever Learning of South Gilbert, LLC is an elementary and secondary school located in Gilbert, Arizona, operating under the Primrose Schools franchise. The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,065,000, approved on November 27, 2024 by PNC Bank, National Association.

SBA 7(a) loan, change of ownership, approved Nov 27, 2024

$1,065,000 approvedLender: PNC Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,065,000
SBA-guaranteed amount
$798,750 (75% of the approval)
Lender
PNC Bank, National Association, Wilmington, DE
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.15%, fixed
Term
10 years (120 months)
Estimated maturity
November 27, 2034 (estimated, approval date plus term)
Estimated monthly payment
$12,448 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 6, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
25
Business type
Corporation
NAICS
611110, Elementary and Secondary Schools
Franchise
Primrose Schools
Project location
Maricopa County, AZ
SBA district office
Arizona District Office
Congressional district
AZ-05
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 25% of acquisition loans in Elementary and Secondary Schools on this site.
  • Average acquisition loan in Elementary and Secondary Schools: $1,451,500.
  • Average acquisition loan in Arizona: $1,690,811.

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 Arizona