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TD Bank Provides $2.4 Million SBA Loan to Support Purchase of The Kubert School
October 17, 2019
Source: TD Bank
TD Bank, America's Most Convenient Bank®, announced today that its U.S. Small Business Administration (SBA) Lending Group closed $2.4 million combined in 7(a) term and 7(a) Express loans for The Kubert School in Dover, New Jersey, which offers a fully accredited three-year course for cartoon and graphic arts.
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.
"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. The team acted as trusted advisors to the client, assisting throughout the entire process to ensure a successful transaction."
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 percent industry job placement rate post-graduation and helps improve the local economy.
"It is an honor to have the opportunity to lead The Joe Kubert School, which has touched so many people and changed lives for the better," said Marques. "TD Bank's intimate knowledge of the school and regional market resulted in a smooth and pleasant ownership transition process. Now, I cannot wait to continue to inspire future artists and ensure they receive the best art-related education possible, so they are prepared to pursue their dreams of working in the industry."
The transaction was closed by Gauthier and Sean Flannery, relationship manager in TD's Commercial Lending Group in Morris County, N.J. TD Bank is the no.1 SBA lender in New Jersey.
About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9 million customers with a full range of retail, small business and commercial banking products and services at more than 1,200 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com/us.
Shari Rosen, APR
Corporate Communications Manager I - Small Business/Commercial