TD Bank’s U.S. Small Business Administration Lending Group closed $2.4 million combined in 7(a) term and 7(a) express loans for The Kubert School in Dover, NJ, which offers a fully accredited three-year course for cartoon and graphic arts.
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The school was purchased by a former student, Anthony Marques, who as president of the school is dedicated to carrying on its founder’s legacy and maintaining the school’s reputation. The financing will support the transition of school ownership and provide working capital.
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“As a North Jersey native, I grew up seeing The Kubert School’s iconic sign, so I was very excited to have the opportunity to help this business with its financing needs,” said Jerry Gauthier, business development officer in TD’s SBA Lending Group.
“Although there was competition for the deal, TD stood out because of our deep understanding of the school and the local market as well as our strong reputation in the SBA space.
Founded by the late Joe Kubert, a renowned comic book artist and art teacher, The Kubert School has provided students from all over the world with education in Cartooning and Graphic Arts for more than 40 years. According to Marques, Kubert is known for its 95% industry job placement rate post-graduation.
