Main Street Registry

LCB Business Corp.

Blaine, MN · All Other Specialty Trade Contractors · NAICS 238990

LCB Business Corp. is a business in Blaine, Minnesota, in the All Other Specialty Trade Contractors industry. The company was financed with an SBA 7(a) loan for a change of ownership totaling $5 million, approved on November 6, 2024 by Lake Elmo Bank.

SBA 7(a) loan, change of ownership, approved Nov 6, 2024

Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
Lake Elmo Bank, Lake Elmo, MN
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
7.75%, fixed
Term
10 years (120 months)
Estimated maturity
November 6, 2034 (estimated, approval date plus term)
Estimated monthly payment
$60,005 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 8, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
33
Business type
Corporation
NAICS
238990, All Other Specialty Trade Contractors
Project location
Anoka County, MN
SBA district office
Minnesota District Office
Congressional district
MN-04
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)

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 Minnesota