Kingdom Spas, LLC
Kingdom Spas, LLC is a business in Ankeny, Iowa, in the Other Personal Care Services industry (NAICS 812199). It was financed with an SBA 7(a) loan for a change of ownership of $1.265 million, approved on September 27, 2024 by Northwest Bank, and the loan is listed as part of a franchise, Massage Heights.
SBA 7(a) loan, change of ownership, approved Sep 27, 2024
$1,265,000 approvedLender: Northwest Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,265,000
- SBA-guaranteed amount
- $948,750 (75% of the approval)
- Lender
- Northwest Bank, Spencer, IA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.59%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- September 27, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $15,075 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 30
- Business type
- Corporation
- NAICS
- 812199, Other Personal Care Services
- Franchise
- Massage Heights
- Project location
- Polk County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 66% of acquisition loans in Other Personal Care Services on this site.
- Average acquisition loan in Other Personal Care Services: $1,410,088.
- Average acquisition loan in Iowa: $1,701,244.
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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