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Mike's Dock & Yard Services 2.0, Inc.

Spicer, MN · Landscaping Services · NAICS 561730

Mike's Dock & Yard Services 2.0, Inc. is a landscaping services business located in Spicer, Minnesota, classified under NAICS code 561730. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1,277,500, approved on March 12, 2024 through 21st Century Bank, with 12 jobs reported.

SBA 7(a) loan, change of ownership, approved Mar 12, 2024

$1,277,500 approvedLender: 21st Century Bank16 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,277,500
SBA-guaranteed amount
$958,125 (75% of the approval)
Lender
21st Century Bank, Loretto, MN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.25%, fixed
Term
16 years (192 months)
Estimated maturity
March 12, 2040 (estimated, approval date plus term)
Estimated monthly payment
$12,771 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 4, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
12
Business type
Corporation
NAICS
561730, Landscaping Services
Project location
Kandiyohi County, MN
SBA district office
Minnesota District Office
Congressional district
MN-07
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 53% of acquisition loans in Landscaping Services on this site.
  • Average acquisition loan in Landscaping Services: $1,520,772.
  • Average acquisition loan in Minnesota: $1,482,119.

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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Same industry in Minnesota