Michigan Medical and Rehabilitation Supply L.L.C.
Michigan Medical and Rehabilitation Supply L.L.C. is a wholesale business in Saginaw, Michigan, in the medical, dental, and hospital equipment and supplies merchant wholesalers industry. The company was financed with an SBA 7(a) loan for a change of ownership of $2,639,200 from Old National Bank, approved on June 11, 2024.
SBA 7(a) loan, change of ownership, approved Jun 11, 2024
$2,639,200 approvedLender: Old National Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,639,200
- SBA-guaranteed amount
- $1,979,400 (75% of the approval)
- Lender
- Old National Bank, Evansville, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, fixed
- Term
- 25 years (300 months)
- Estimated maturity
- June 11, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $21,252 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 18, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 30
- Business type
- Corporation
- NAICS
- 423450, Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
- Project location
- Saginaw County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 75% of acquisition loans in Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers on this site.
- Average acquisition loan in Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers: $1,918,150.
- Average acquisition loan in Michigan: $1,645,728.
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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