Diversified Employment Services, Inc
Diversified Employment Services, Inc, located in Southfield, MI, operates in the employment placement agencies industry (NAICS 561311). The business was financed with an SBA 7(a) loan for a change of ownership totaling $2,008,000, approved on October 27, 2023 by lender MI Bank.
SBA 7(a) loan, change of ownership, approved Oct 27, 2023
$2,008,000 approvedLender: MI Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,008,000
- SBA-guaranteed amount
- $1,506,000 (75% of the approval)
- Lender
- MI Bank, Bloomfield Township, MI
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- October 27, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $27,095 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 6, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 300
- Business type
- Corporation
- NAICS
- 561311, Employment Placement Agencies
- Project location
- Oakland County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-14
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 61% of acquisition loans in Employment Placement Agencies on this site.
- Average acquisition loan in Employment Placement Agencies: $2,146,432.
- 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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