New Life Holdings LLC L.L.C.
New Life Holdings LLC L.L.C. is a sheet metal work manufacturing business in North Branch, Minnesota (NAICS 332322). It financed real estate or equipment through an SBA 504 loan of $1,724,000, approved on May 9, 2024, with Falcon National Bank as the lender and Midwest Business Finance Corporation as the certified development company.
SBA 504 loan, approved May 9, 2024
$1,724,000 SBA portionCDC: Midwest Business Finance Corporation25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $1,724,000
- Bank portion
- $2,271,757
- Estimated project size
- $4,439,730 (estimated)
- Estimated owner equity
- $443,973 (estimated, about 10% of the project)
- Bank lender
- Falcon National Bank, Foley, MN
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- May 9, 2049 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 332322, Sheet Metal Work Manufacturing
- Project location
- Chisago County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-8
- Collateral
- Yes
Estimated share of project by source
Bank 51% SBA (CDC) 39% Owner 10%
- Average expansion loan in Sheet Metal Work Manufacturing: $2,822,750.
- Average expansion loan in Minnesota: $2,136,981.
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
- Norco Precision Partners LLC, Maple Grove