Blooming Beauties LLC
Blooming Beauties LLC is a beauty salon located in Bloomington, Indiana. The business was financed with an SBA 7(a) loan for a change of ownership of $804,000, approved on April 16, 2024, through Old National Bank. The loan lists 25 jobs.
SBA 7(a) loan, change of ownership, approved Apr 16, 2024
$804,000 approvedLender: Old National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $804,000
- SBA-guaranteed amount
- $603,000 (75% of the approval)
- Lender
- Old National Bank, Evansville, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.75%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- April 16, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $9,649 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 19, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 25
- Business type
- Corporation
- NAICS
- 812112, Beauty Salons
- Project location
- Monroe County, IN
- SBA district office
- Indiana District Office
- Congressional district
- IN-09
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 47% of acquisition loans in Beauty Salons on this site.
- Average acquisition loan in Beauty Salons: $1,125,702.
- Average acquisition loan in Indiana: $1,995,900.
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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