Lincoln Educational Services secures $15.04 million Provident Bank mortgage loan for Illinois campus property purchase

LINC•2026-07-10

Provident Bank mortgage loan backs Illinois campus purchase

Lincoln Educational Services closed a $15.04 million mortgage loan with Provident Bank tied to its Melrose Park, Illinois campus property purchase.

The financing supported the $18.8 million acquisition of the facility and real estate, with the balance funded from cash on hand.

The loan carries a 5.99% fixed rate for five years, then resets to 5-year Treasury yield plus 1.75%, with a 5% floor.

It matures July 1, 2036; monthly principal-and-interest payments of about $97,628 begin Aug. 1, 2026.

The loan is secured by the property and backed by guarantees from the parent and its subsidiaries.

Sources

Lincoln Educational Services secures $15.04 million Provident Bank mortgage loan for Illinois campus property purchase

Sec

Lincoln Educational Services secures $15.04 million Provident Bank mortgage loan for Illinois campus property purchase

Provident Bank mortgage loan backs Illinois campus purchase

Related News

Mineralys CMO David Malcom Rodman sells 2,171 common shares worth $65,781.30

Nasdaq trade halt continues <OST.O> reason not available at 07:50 pm

Delek Logistics Partners’ EVP, General Counsel Misty Lavender files initial beneficial ownership statement

Sources

Lincoln Educational Services secures $15.04 million Provident Bank mortgage loan for Illinois campus property purchase

Vivakor agrees to issue 3,740,586 restricted shares for Series A preferred dividends owed

Taysha Gene Therapies President, Head of R&D Sukumar Nagendran disposes of 200,000 common shares for $1.25 million