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Private School Business Loans
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Managing private school finances can feel like solving ever-changing equations
Private educational businesses centered on child-focused learning contend with intense enrollment competition from public schools. Unlike their public counterparts, they primarily depend on tuition fees, which leaves them vulnerable during economic downturns or periods of decreased enrollment.
Rising operational costs—like teacher salaries, facility upkeep, and expansion—can force these schools to consider tuition hikes, potentially deterring prospective families. They also face stiff competition from well-funded public options and a growing array of online platforms. As parents seek innovative teaching methods, schools are compelled to invest in technology and resources, which can further tighten budgets.
However, it’s not all bad news: many alternative learning programs are experiencing a rise in enrollment as parents explore diverse educational options for their children.
Creative strategies and innovation solve financial strain
Private schools and education businesses face financial challenges that can be overwhelming. Unlike public institutions, which are backed by government funding, private education businesses rely primarily on tuition. When economic downturns hit, enrollments can drop, with tuition hikes to offset costs.
But there is hope on the horizon as private and alternative education enrollment is on the rise. Parents are demanding more innovative and tech-savvy learning environments and are seeking more unique learning environments for education. This is where educational businesses can outshine their more traditional peers.
To ease the financial strain of necessary upgrades, consider financing options like the SBA 7a and 504 loans. These loans can help schools acquire essential equipment, refinance debt, or expand facilities. The SBA 7a loan offers flexible uses for working capital, while the 504 loan focuses on long-term investments in real estate and large assets.
At First Bank of the Lake, we’ve funded over $1.1 billion in SBA loans to small businesses, including many educational businesses. Our team understands your unique needs and can tailor solutions to help you manage rising costs, hire skilled staff, and ensure long-term success.
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The First Bank of the Lake rep and I bonded over faith, fishing and finance. They got my loan done in under 30 days in very, very trying circumstances.
Issac Reed
President, Reed’s Moving Services
If we ever need business capital, my first call would be to First Bank of the Lake. Why would I look elsewhere?
Barry Norfleet
Co-founder, Lifetime Green Coatings - Kentucky
I got my $345,000 SBA loan approved from First Bank of the Lake in 35 days!
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President, Woof Gang Bakery - Bradenton, FL
First Bank of the Lake was the best banking experience I have ever had.
Andy
Co-founder, President, Winter Park Ski Rental
The bank process was as easy it could be. The biggest thing is how transparent and reliable they were.
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Co-founder, President, Freelite AZ
My First Bank of the Lake rep was great – Easily the finest banker I have dealt with in my life.
Dan Billings
President, Tint World - San Antonio
Big thanks to Emil and the First Bank of the Lake team. I would recommend them to anyone else in a heartbeat and I would absolutely use them again.
Rock Katic
President, Perfect Moving
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