FINANCIAL_SERVICESRENEWED

School Renews $6M Line of Credit With Hanmi Bank

Assurance Learning Academy’s board renewed a $6 million revolving line of credit with Hanmi Bank for the 2026-2027 school year at a current interest rate of 7.25%. The facility will be used on an as-needed basis to support the school’s cash flow.

Document date · June 4, 2026

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WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
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Scope & details

The full contract record, as filed.

Contract amount
$6,000,000
Contract type
FINANCIAL_SERVICES
Contract term
2026-2027 school year
Renewal date
2027-06-30
Renewal
Revolving line of credit renewed for 2026-2027 in the amount of $6M; interest rate is the higher of 3.75% fixed or prime rate plus 0.5%, currently 7.25%.
Document type
Minutes
Source document
Assurance Learning Academy Minutes Regular Board Meeting 2026-06-04

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Assurance Learning Academy?

Hanmi Bank was awarded this financial services contract by Assurance Learning Academy, as recorded on June 4, 2026. The contract value is $6,000,000.

How much is the Hanmi Bank contract with Assurance Learning Academy worth?

The Hanmi Bank contract with Assurance Learning Academy is valued at $6,000,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Assurance Learning Academy Minutes Regular Board Meeting 2026-06-04 (Minutes), dated June 4, 2026 from Assurance Learning Academy. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Hanmi Bank hold?

Hanmi Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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