Originally Published by TD Bank.
TD Bank, America’s Most Convenient Bank, announced that its Small Business Administration (SBA) Lending Group provided a 7(a) loan to assist local educators and entrepreneurs purchase The Goddard School franchise in Woodstock, Georgia, to bring Goddard’s private preschool curriculum to area families.
TD Bank worked with metro Atlanta residents Bruce Kaminsky and Cinnamon Snipes to close a long-term, fixed-rate loan to acquire an existing school and its associated real estate. The duo will reopen the 10,000-square-foot facility under The Goddard School brand, which educates children six weeks to six years old. Once fully operational, the new franchise location will employ approximately 25 people and serve 150 children annually. Kaminsky and Snipes also plan to use a portion of this financing to renovate the building’s classrooms and common area.
“TD Bank strives to work with premium franchise brands and owners like Bruce and Cinnamon who contribute to their communities through our SBA lending program,” said Tom Pretty, Head of SBA Lending at TD Bank. “With interest rates on the rise, it was important for these small business owners to lock down rates that work for them and their business needs, while expeditiously working to close the transaction so that there was no gap in childcare for the families of the school.”
Snipes has more than 15 years of early childhood education management and is directly involved in the day-to-day management of the school, while Kaminsky focuses on real estate investment and business operations.
“We interviewed a number of banks when we were seeking a loan, but selected TD because from our initial conversation we could tell that they were much more than a financier,” Kaminsky said. “Throughout the process, our TD team proved to be a trusted resource that was incredibly accessible and responsive to our every need.”
TD Bank’s SBA Lending Group participates in all of the SBA loan offerings: SBAExpress Loan, 7(a) Loan, 504 Loan and the USDA Loan (agriculture). TD Bank is the no. 1 SBA lender in its Maine to Florida footprint.