Sylvan Learning, Inc., North America’s most recognized provider of supplemental education, announced today it is extending its 2009 Capital Renovation Program, which was set to expire earlier this month. Sylvan Learning franchisees can take advantage of the program, which provides a dollar-for-dollar matching promissory note for capital improvements, through December 31, 2009. Sylvan Learning will match up to $7,500 per center via a promissory note to be paid off over 36 months at 4 percent interest.
“Due to the success of our Capital Renovation Program, Sylvan Learning has decided to extend the deadline so that even more of our franchisees can take advantage of this low interest rate loan to make needed renovations and improvements in their centers,” said Curt Hapward, Sylvan Learning’s vice president of franchising. “During a time when it is difficult for local business owners to obtain financing, Sylvan Learning wants to make it easier for franchisees to get the financing they need to be successful.”
Sylvan’s extended Capital Renovation Program has a cap of $30,000, which allows multi-unit Sylvan owners to receive matching funds for improvements at up-to-four of their centers – $7,500 at each. Renovations and improvements that qualify include new carpet/flooring, paint, signage, etc.