Medical Society LLC
Medical Society LLC is a veterinary services business in Santa Fe, New Mexico, classified under NAICS code 541940. It was financed with an SBA 7(a) loan for a change of ownership totaling $1,335,000, approved by Live Oak Banking Company on October 10, 2024.
SBA 7(a) loan, change of ownership, approved Oct 10, 2024
$1,335,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,335,000
- SBA-guaranteed amount
- $1,001,250 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.5%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- October 10, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $9,866 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 541940, Veterinary Services
- Project location
- Santa Fe County, NM
- SBA district office
- New Mexico District Office
- Congressional district
- NM-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 40% of acquisition loans in Veterinary Services on this site.
- Average acquisition loan in Veterinary Services: $1,742,169.
- Average acquisition loan in New Mexico: $1,985,089.
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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