Homeland Health Specialists, Inc
Homeland Health Specialists, Inc, located in Minneapolis, Minnesota, operates in the All Other Miscellaneous Ambulatory Health Care Services industry (NAICS 621999). The company was financed with an SBA 7(a) loan for a change of ownership of $1.4 million from Live Oak Banking Company, with an approval date of April 4, 2024.
SBA 7(a) loan, change of ownership, approved Apr 4, 2024
$1,400,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,400,000
- SBA-guaranteed amount
- $1,050,000 (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
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 4, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $18,116 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 3, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 82
- Business type
- Corporation
- NAICS
- 621999, All Other Miscellaneous Ambulatory Health Care Services
- Project location
- Hennepin County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in All Other Miscellaneous Ambulatory Health Care Services: $1,094,800.
- 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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