by Timothy Rutt
The Arroyo Pacific Academy recently closed a Small Business Administration loan for $2.8 million, according to a press release from the lender, Mercantile Capital Corp.,
According to the release, "With its new loan, Mercantile Capital Corporation will enable the school to expand in numbers and invest in additional well qualified staff. It also facilitates development of the infrastructure needed for this growth in the arts, technology, career and fitness components of the curriculum."
Arts and technology are two of the emphases that Academy president Philip Clarke said he would pursue on the school's planned Palm Street campus.
On Thursday, county planning staff recommended that the county turn down Arroyo Pacific's permit application to open that campus.
Our earlier story is here, and the Mercantile Capital press release is here.
Arroyo Pacific Academy is an Altadenablog sponsor.
