Lakeland Health Services, Inc
Lakeland Health Services, Inc is located in Plymouth, Minnesota, and operates in the offices of all other miscellaneous health practitioners industry. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $2,050,000, approved on July 26, 2024 by Bridgewater Bank.
SBA 7(a) loan, change of ownership, approved Jul 26, 2024
$2,050,000 approvedLender: Bridgewater Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,050,000
- SBA-guaranteed amount
- $1,537,500 (75% of the approval)
- Lender
- Bridgewater Bank, Saint Louis Park, MN
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 26, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $27,091 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 5, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 38
- Business type
- Corporation
- NAICS
- 621399, Offices of All Other Miscellaneous Health Practitioners
- Project location
- Hennepin County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 77% of acquisition loans in Offices of All Other Miscellaneous Health Practitioners on this site.
- Average acquisition loan in Offices of All Other Miscellaneous Health Practitioners: $1,578,530.
- 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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