Just before the Christmas break, ACS officials finalized a new commercial loan with OceanFirst Bank that will result in an annual budget savings of some $24,000 in interest payments on the school’s $1.7 million mortgage. “We are very pleased that OceanFirst Bank came alongside our school to provide us with a new loan that takes advantage of lower interest rates and gets us closer to our goal of paying off our mortgage,” said Chief School Administrator Karen Oblen.
The ACS officials pictured below at the closing on the new loan on December 21, from left, are Business Administrator Kelly Flynn, Board Chair Doug Pearson, Chief School Administrator Karen Oblen, Claudia Pennella, representing Equity Plus Land Transfer and an ACS alumni parent, and Brett Lawrence, Vice President of Commercial Lending for OceanFirst Bank.
“As a community bank, our focus is on the people and organizations within our local markets,” said Lawrence, of OceanFirst Bank. “We are happy to be able to meet the banking needs of Atlantic Christian School and consider it a bonus any time we can do something that supports children and education in the communities we serve.”
Oblen also expressed thanks to the Ocean City Tabernacle for its steadfast support of Atlantic Christian, which has held the school’s mortgage since 2014. She also thanked Mrs. Pennella and Equity Plus Land Transfer for its valuable assistance in handling the title work and discounting its professional fees.
