L.w. Morgridge Septic, LLC
L.w. Morgridge Septic, LLC is a specialty trade contractor in Eliot, Maine, classified under NAICS 238990 (All Other Specialty Trade Contractors). The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $1,965,000, from Byline Bank, with approval dated July 16, 2025.
SBA 7(a) loan, change of ownership, approved Jul 16, 2025
$1,965,000 approvedLender: Byline Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,965,000
- SBA-guaranteed amount
- $1,473,750 (75% of the approval)
- Lender
- Byline Bank, Chicago, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 16, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $25,696 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 23, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 238990, All Other Specialty Trade Contractors
- Project location
- York County, ME
- SBA district office
- Maine District Office
- Congressional district
- ME-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 61% of acquisition loans in All Other Specialty Trade Contractors on this site.
- Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
- Average acquisition loan in Maine: $1,448,582.
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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