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Nippersink Education Group LLC

Ingleside, IL · Child Care Services · NAICS 624410

Nippersink Education Group LLC is a child care services business located in Ingleside, Illinois, under NAICS code 624410. The company was financed with an SBA 7(a) loan for a change of ownership of $1.18 million, approved on July 11, 2024 by The Huntington National Bank.

SBA 7(a) loan, change of ownership, approved Jul 11, 2024

$1,179,000 approvedLender: The Huntington National Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,179,000
SBA-guaranteed amount
$884,250 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
25 years (300 months)
Estimated maturity
July 11, 2049 (estimated, approval date plus term)
Estimated monthly payment
$11,132 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 30, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
18
Business type
Corporation
NAICS
624410, Child Care Services
Project location
Lake County, IL
SBA district office
Illinois District Office
Congressional district
IL-10
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 47% of acquisition loans in Child Care Services on this site.
  • Average acquisition loan in Child Care Services: $1,662,827.
  • Average acquisition loan in Illinois: $1,796,780.

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