The Medbill Group Inc.
The Medbill Group Inc. is a business in Brooklyn, NY, in the computing infrastructure, data processing, and web hosting industry (NAICS 518210). The company financed real estate or equipment through an SBA 504 loan of $2,642,000 with a total project amount of $3,700,000, approved on November 14, 2024, through Cross River Bank and Trenton Business Assistance Corporation.
SBA 504 loan, approved Nov 14, 2024
$2,642,000 SBA portionCDC: Trenton Business Assistance Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $2,642,000
- Bank portion
- $3,700,000
- Estimated project size
- $7,046,667 (estimated)
- Estimated owner equity
- $704,667 (estimated, about 10% of the project)
- Bank lender
- Cross River Bank, Fort Lee, NJ
- Processing method
- 504 Basic: standard SBA processing through a CDC
- Term
- 25 years (300 months)
- Estimated maturity
- November 14, 2049 (estimated, approval date plus term)
- First disbursement
- Feb 12, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 518210, Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services
- Project location
- Kings County, NY
- SBA district office
- New York District Office
- Congressional district
- NY-7
- Collateral
- Yes
Estimated share of project by source
Bank 53% SBA (CDC) 37% Owner 10%
- Average expansion loan in Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services: $2,790,333.
- Average expansion loan in New York: $2,225,161.
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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