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Primrose School of Lake Norman

Mooresville, NC · Child Care Services · NAICS 624410

Primrose School of Lake Norman is a child care services business in Mooresville, NC, classified under NAICS 624410, and is a Primrose Schools franchise. It financed real estate or equipment through an SBA 504 loan of $2,056,000 from the SBA portion of a total project of $2,511,000, with America First Federal Credit Union as the lender and Business Expansion Funding Corporation as the certified development company, approved on September 10, 2025.

SBA 504 loan, approved Sep 10, 2025

$2,056,000 SBA portionCDC: Business Expansion Funding Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$2,056,000
Bank portion
$2,511,000
Estimated project size
$5,074,444 (estimated)
Estimated owner equity
$507,444 (estimated, about 10% of the project)
Bank lender
America First Federal Credit Union, Riverdale, UT
CDC
Business Expansion Funding Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
September 10, 2050 (estimated, approval date plus term)
First disbursement
May 13, 2026
Loan status
Status not reported (SBA exemption)
Jobs supported
30
Business type
Corporation
NAICS
624410, Child Care Services
Franchise
Primrose Schools
Project location
Iredell County, NC
SBA district office
North Carolina District Office
Congressional district
NC-10
Collateral
Yes

Estimated share of project by source

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

  • Larger than 58% of expansion loans in Child Care Services on this site.
  • Average expansion loan in Child Care Services: $1,977,874.
  • 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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Same industry in North Carolina