Careers Unlimited, LLC
Careers Unlimited, LLC is a business in Orem, Utah, in the Other Technical and Trade Schools industry (NAICS 611519). The company was financed with an SBA 7(a) loan for a change of ownership, approved on June 13, 2024 by First Utah Bank, in the amount of $5 million.
SBA 7(a) loan, change of ownership, approved Jun 13, 2024
$5,000,000 approvedLender: First Utah Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $5,000,000
- SBA-guaranteed amount
- $3,750,000 (75% of the approval)
- Lender
- First Utah Bank, Salt Lake City, UT
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- June 13, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $64,016 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 29, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 30
- Business type
- Corporation
- NAICS
- 611519, Other Technical and Trade Schools
- Project location
- Utah County, UT
- SBA district office
- Utah District Office
- Congressional district
- UT-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Other Technical and Trade Schools: $2,252,767.
- Average acquisition loan in Utah: $1,761,092.
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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