L&L Senior Living LLC
L&L Senior Living LLC is located in Coventry, Rhode Island, and operates in the assisted living facilities for the elderly industry (NAICS 623312). The business was financed with an SBA 7(a) loan for a change of ownership of $4.875 million, with approval dated March 5, 2025, through Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Mar 5, 2025
$4,875,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,875,000
- SBA-guaranteed amount
- $3,656,250 (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%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- March 5, 2050 (estimated, approval date plus term)
- Estimated monthly payment
- $40,911 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 17, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 28
- Business type
- Corporation
- NAICS
- 623312, Assisted Living Facilities for the Elderly
- Project location
- Kent County, RI
- SBA district office
- Rhode Island District Office
- Congressional district
- RI-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 94% of acquisition loans in Assisted Living Facilities for the Elderly on this site.
- Average acquisition loan in Assisted Living Facilities for the Elderly: $1,782,411.
- Average acquisition loan in Rhode Island: $1,739,073.
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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