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Atlantic Shore Retirement Residence

Pompano Beach, FL · Assisted Living Facilities for the Elderly · NAICS 623312

Atlantic Shore Retirement Residence is an assisted living facility for the elderly located in Pompano Beach, Florida, classified under NAICS code 623312. The business was financed with an SBA 7(a) loan for a change of ownership of $2,659,000, approved on August 6, 2024, by First Internet Bank of Indiana.

SBA 7(a) loan, change of ownership, approved Aug 6, 2024

$2,659,000 approvedLender: First Internet Bank of Indiana25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,659,000
SBA-guaranteed amount
$1,994,250 (75% of the approval)
Lender
First Internet Bank of Indiana, Fishers, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.25%, variable
Term
25 years (300 months)
Estimated maturity
August 6, 2049 (estimated, approval date plus term)
Estimated monthly payment
$26,543 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Sep 19, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
14
Business type
Corporation
NAICS
623312, Assisted Living Facilities for the Elderly
Project location
Broward County, FL
SBA district office
South Florida District Office
Congressional district
FL-22
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 81% of acquisition loans in Assisted Living Facilities for the Elderly on this site.
  • Average acquisition loan in Assisted Living Facilities for the Elderly: $1,782,411.
  • Average acquisition loan in Florida: $1,808,559.

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 Florida