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Lake Area Heating and Air, LLC

Keystone Heights, FL · Plumbing, Heating, and Air-Conditioning Contractors · NAICS 238220

Lake Area Heating and Air, LLC is a plumbing, heating, and air-conditioning contractor in Keystone Heights, Florida (NAICS 238220). The company was financed with an SBA 7(a) loan for a change of ownership totaling $2,400,000, approved on December 23, 2024, through Live Oak Banking Company.

SBA 7(a) loan, change of ownership, approved Dec 23, 2024

$2,400,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,400,000
SBA-guaranteed amount
$1,800,000 (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
9.75%, variable
Term
10 years (120 months)
Estimated maturity
December 23, 2034 (estimated, approval date plus term)
Estimated monthly payment
$31,385 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 14, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
9
Business type
Corporation
NAICS
238220, Plumbing, Heating, and Air-Conditioning Contractors
Project location
Clay County, FL
SBA district office
North Florida District Office
Congressional district
FL-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 76% of acquisition loans in Plumbing, Heating, and Air-Conditioning Contractors on this site.
  • Average acquisition loan in Plumbing, Heating, and Air-Conditioning Contractors: $1,758,508.
  • Average acquisition loan in Florida: $1,808,559.

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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Same industry in Florida