Recently Funded Deal: School
- A school located in Paramus, NJ was closed in order to prepare for the demolition of the structure and construction of the new facility.
- The property had been operating since 1988 and the principal of the previous school also operates another school that is located 45 minutes from the property.
- TD Bank recognized the fit for a CDC 504 loan for the new facility.
- The 504 Company funded $1,690,000 of a $4,225,000 project that allowed the new facility to be built and for the property to be purchased.
- The purchase provided the owner with the opportunity to build a 2 story, 11,931 square foot building for the new school.
- In addition, the owner can build 12 new classrooms, a lunchroom, a kitchen, and a staff room.
- Also included within this project is funding for furniture, appliances, equipment, classroom supplies, and much more.