Allen Avenue Ventures LLC
Allen Avenue Ventures LLC, located in Portland, Maine, operates in the funeral homes and funeral services industry. The company was approved for an SBA 504 loan with a SBA portion of $2,551,000 to finance real estate or equipment through an SBA 504 loan, with Norway Savings Bank as the lender and an approval date of January 16, 2024.
SBA 504 loan, approved Jan 16, 2024
$2,551,000 SBA portionCDC: Granite State Economic Development Corporation25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $2,551,000
- Bank portion
- $3,118,000
- Estimated project size
- $6,298,889 (estimated)
- Estimated owner equity
- $629,889 (estimated, about 10% of the project)
- Bank lender
- Norway Savings Bank, Norway, ME
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- January 16, 2049 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 812210, Funeral Homes and Funeral Services
- Project location
- Cumberland County, ME
- SBA district office
- Maine District Office
- Congressional district
- ME-1
- Collateral
- Yes
Estimated share of project by source
Bank 50% SBA (CDC) 40% Owner 10%
- Larger than 91% of expansion loans in Funeral Homes and Funeral Services on this site.
- Average expansion loan in Funeral Homes and Funeral Services: $1,474,273.
- Average expansion loan in Maine: $2,027,182.
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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- C. McInnis Real Estate Holdings, LLC, Waterville