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Ready, Set, Grow! Child Care Center, L.L.C.

Flushing, NY · Child Care Services · NAICS 624410

Ready, Set, Grow! Child Care Center, L.L.C. is a child care services business in Flushing, New York, in the child care services industry (NAICS 624410). It was financed with an SBA 7(a) loan for a change of ownership in the amount of $750,000, approved by the New York Business Development Corporation on August 26, 2024.

SBA 7(a) loan, change of ownership, approved Aug 26, 2024

$750,000 approvedLender: New York Business Development Corporation10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$750,000
SBA-guaranteed amount
$562,500 (75% of the approval)
Lender
New York Business Development Corporation, Latham, NY
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
9%, fixed
Term
10 years (120 months)
Estimated maturity
August 26, 2034 (estimated, approval date plus term)
Estimated monthly payment
$9,501 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 15, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
12
Business type
Corporation
NAICS
624410, Child Care Services
Project location
Queens County, NY
SBA district office
New York District Office
Congressional district
NY-06
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 26% of acquisition loans in Child Care Services on this site.
  • Average acquisition loan in Child Care Services: $1,662,827.
  • Average acquisition loan in New York: $1,771,512.

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 New York