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Family Chiropractic Center PA

Farmington, MN · Offices of Chiropractors · NAICS 621310

Family Chiropractic Center PA is an offices of chiropractors business located in Farmington, MN. It was financed with an SBA 7(a) loan for a change of ownership of $520,000, approved on December 8, 2023 by lender BankVista.

SBA 7(a) loan, change of ownership, approved Dec 8, 2023

$520,000 approvedLender: BankVista10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$520,000
SBA-guaranteed amount
$390,000 (75% of the approval)
Lender
BankVista, Sartell, MN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
10 years (120 months)
Estimated maturity
December 8, 2033 (estimated, approval date plus term)
Estimated monthly payment
$6,729 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 21, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
13
Business type
Corporation
NAICS
621310, Offices of Chiropractors
Project location
Dakota County, MN
SBA district office
Minnesota District Office
Congressional district
MN-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 14% of acquisition loans in Offices of Chiropractors on this site.
  • Average acquisition loan in Offices of Chiropractors: $1,068,282.
  • Average acquisition loan in Minnesota: $1,482,119.

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 Minnesota