Definitely sounds like FAA minimums. Plus think about the aircraft and reputation of places. Do you want to fly an aircraft that is $10 more per hour and is taken care of. Or something cheap that they MEL items all the time and don't get things fixed till it is absolutely needed.
I'm not attacking that school. I have never heard of them in fact, so that might be a good thing. What I'm getting at is research the company and their CFI's insight on aircraft etc.. Anyone been there or instructed there chime in?