NorthStar Surgical Inc
NorthStar Surgical Inc is located in Minneapolis, Minnesota, in the medical, dental, and hospital equipment and supplies merchant wholesalers industry (NAICS 423450). The company was financed with an SBA 7(a) loan for a change of ownership totaling $1,472,500, with First Resource Bank as the lender and an approval date of May 22, 2025.
SBA 7(a) loan, change of ownership, approved May 22, 2025
$1,472,500 approvedLender: First Resource Bank186 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,472,500
- SBA-guaranteed amount
- $1,104,375 (75% of the approval)
- Lender
- First Resource Bank, Lino Lakes, MN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8%, variable
- Term
- 15 years, 6 months (186 months)
- Estimated maturity
- November 22, 2040 (estimated, approval date plus term)
- Estimated monthly payment
- $13,838 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 30, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 423450, Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
- Project location
- Hennepin County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-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 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 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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