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Air Handlers Service Group LLC

Auburn Hills, MI · Plumbing, Heating, and Air-Conditioning Contractors · NAICS 238220

Air Handlers Service Group LLC, located in Auburn Hills, Michigan, operates in plumbing, heating, and air-conditioning contracting. The company was financed with an SBA 7(a) loan for a change of ownership of $1.5 million, approved by Old National Bank on December 2, 2024.

SBA 7(a) loan, change of ownership, approved Dec 2, 2024

$1,516,900 approvedLender: Old National Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,516,900
SBA-guaranteed amount
$1,137,675 (75% of the approval)
Lender
Old National Bank, Evansville, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.75%, fixed
Term
10 years (120 months)
Estimated maturity
December 2, 2034 (estimated, approval date plus term)
Estimated monthly payment
$19,011 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 11, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
15
Business type
Corporation
NAICS
238220, Plumbing, Heating, and Air-Conditioning Contractors
Project location
Oakland County, MI
SBA district office
Michigan District Office
Congressional district
MI-08
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 55% of acquisition loans in Plumbing, Heating, and Air-Conditioning Contractors on this site.
  • Average acquisition loan in Plumbing, Heating, and Air-Conditioning Contractors: $1,758,508.
  • Average acquisition loan in Michigan: $1,645,728.

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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Same industry in Michigan