Grand Risk Advisors LLC
Grand Risk Advisors LLC is a business in Grand Rapids, Michigan, in the insurance agencies and brokerages industry. The company was financed with an SBA 7(a) loan for a change of ownership of $1,457,000, approved on March 19, 2024, through Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Mar 19, 2024
$1,457,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,457,000
- SBA-guaranteed amount
- $1,092,750 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.79%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 19, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $19,085 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- Kent County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 63% of acquisition loans in Insurance Agencies and Brokerages on this site.
- Average acquisition loan in Insurance Agencies and Brokerages: $1,528,335.
- 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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