Honest Mike's Sewer and Drain LLC
Honest Mike's Sewer and Drain LLC, located in Lakeville, Minnesota, operates in the industry of all other miscellaneous waste management services (NAICS 562998). The company was financed with an SBA 7(a) loan for a change of ownership of $599,000, approved by BankVista on September 30, 2026, and the SBA data lists 1 job associated with the loan.
SBA 7(a) loan, change of ownership, approved Sep 30, 2026
$599,000 approvedLender: BankVista10 years termCommitted, not fully disbursedLoan details
- Gross approval
- $599,000
- SBA-guaranteed amount
- $449,250 (75% of the approval)
- Lender
- BankVista, Sartell, MN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 30, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $7,347 Estimated payment at the initial rate over the full term; actual terms vary.
- Loan status
- Committed, not fully disbursed
- Jobs supported
- 1
- Business type
- Corporation
- NAICS
- 562998, All Other Miscellaneous Waste Management Services
- Project location
- Scott 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)
- Average acquisition loan in All Other Miscellaneous Waste Management Services: $1,705,717.
- 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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