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TD Bank Provides $2.4MM SBA Loan to Support Purchase of The Kubert School

October 17, 2019, 08:00 AM
Filed Under: Industry News
Related: TD Bank

TD Bank announced 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.

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