Main Street Registry

Lawndale Manor Business LLC

Garner, NC · Assisted Living Facilities for the Elderly · NAICS 623312

Lawndale Manor Business LLC is an assisted living facility for the elderly located in Garner, North Carolina. The company was financed with an SBA 7(a) loan for a change of ownership, approved on August 19, 2024, in the amount of $800,000 through Bank Five Nine.

SBA 7(a) loan, change of ownership, approved Aug 19, 2024

$800,000 approvedLender: Bank Five Nine10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$800,000
SBA-guaranteed amount
$600,000 (75% of the approval)
Lender
Bank Five Nine, Oconomowoc, WI
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
10 years (120 months)
Estimated maturity
August 19, 2034 (estimated, approval date plus term)
Estimated monthly payment
$10,352 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 17, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
35
Business type
Corporation
NAICS
623312, Assisted Living Facilities for the Elderly
Project location
Wake County, NC
SBA district office
North Carolina District Office
Congressional district
NC-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 11% 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 North Carolina: $1,952,444.

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 North Carolina