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SBA loan funds preschool purchase.

With a big assist from the Small Business Administration, Brittany Lupo purchased the preschool where she spent 14 years working at as a teacher.

When it was time for the owner of Puddle Duck Day School to retire, one of her staff members saw an immediate opportunity. Brittany Lupo, who spent 14 years working at the popular preschool, just needed the right type of loan to fulfil her dream.

"I offered to buy out the business and jumped at the opportunity," said Brittany. "I went to another bank and talked about a loan, but they were requiring a 20 percent down payment. That was too much money, especially with the interest rate that was offered." 

The longtime owner of Puddle Duck was a Northern Bank client and suggested to Brittany that she reach out to the local bank, which was started by two local entrepreneurs. Brittany met with a Northern Banker, who suggested an SBA loan.

There are two key advantages of an SBA loan:

  • Only 10% equity is required vs. other loan options which usually require around 20-25%.
  • SBA loans provide longer amortization, 10-year terms with 10-year amortization which allows a borrower to stretch out payments, taking the pressure off cash flow. Most traditional loans offer only 5-year amortization.

With an SBA loan from Northern Bank, Brittany closed on the preschool purchase in August 2021.

"The SBA loan made everything so affordable," said Brittany. "The decision was a no-brainer. I now do my business banking through Northern. Every time I go into the Woburn branch, I am treated to such great and personable service." 

About Puddle Duck Day School

For more than 30 years, Puddle Duck Day School has offered high quality childcare for infants through kindergarteners along Olympia Avenue in Woburn. The popular preschool is home to 49 children and 10 staff members, including one who is a former graduate. Brittany Lupo, a staff member at the school from 2008 - 2021, purchased it from its longtime owner and today continues to serve as owner and director.


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