The Transylvania Times -

Academy Applying For Loan - Brevard, NC


November 13, 2017

Brevard Academy: A Challenge Foundation Academy is applying for a U.S. Department of Agriculture loan to help pay off their renovated building, the former location of the Woods Chevrolet dealership on the New Hendersonville Highway.

Through the Rural Development Program, Academy board treasurer Nick Iosue said he is 99 percent sure the school will qualify for a $5 million loan over a 35-year period at a rate of 3 to 5 percent, which he said is huge for a school.

Another $2 million would be needed to pay off the remainder of the loan. Iosue said he is shopping around for banks that will...

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