Meretta Gotham Hinds Institute of Esthetics, Inc.
Meretta Gotham Hinds Institute of Esthetics, Inc. is a cosmetology and barber school located in Woburn, Massachusetts. The company was financed with an SBA 7(a) loan for a change of ownership of $3.26 million, approved by Live Oak Banking Company on March 7, 2025.
SBA 7(a) loan, change of ownership, approved Mar 7, 2025
$3,260,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,260,000
- SBA-guaranteed amount
- $2,445,000 (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
- 9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 7, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $41,296 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 22, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 19
- Business type
- Corporation
- NAICS
- 611511, Cosmetology and Barber Schools
- Project location
- Middlesex County, MA
- SBA district office
- Massachusetts District Office
- Congressional district
- MA-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Cosmetology and Barber Schools: $1,679,950.
- Average acquisition loan in Massachusetts: $1,643,977.
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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