940 Hastings Avenue LLC
940 Hastings Avenue LLC, located in Saint Paul Park, Minnesota, operates in the residential mental health and substance abuse facilities industry (NAICS 623220). The company's SBA 504 loan was approved on May 22, 2025, with an SBA portion of $1,084,000 through the lender Hiawatha National Bank and the certified development company WBD, Inc.
SBA 504 loan, approved May 22, 2025
$1,084,000 SBA portionCDC: WBD, Inc.25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $1,084,000
- Bank portion
- $1,322,500
- Estimated project size
- $2,673,889 (estimated)
- Estimated owner equity
- $267,389 (estimated, about 10% of the project)
- Bank lender
- Hiawatha National Bank, Hager City, WI
- CDC
- WBD, Inc.
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- May 22, 2050 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 623220, Residential Mental Health and Substance Abuse Facilities
- Project location
- Washington County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-2
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Residential Mental Health and Substance Abuse Facilities: $1,865,167.
- Average expansion loan in Minnesota: $2,136,981.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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- Smc Care Inc, Faribault