Obah Education LLC
Obah Education LLC is located in Roseville, CA, and the SBA lists its industry as Exam Preparation and Tutoring. It was approved for an SBA 7(a) loan of $720,000 for a change of ownership on July 10, 2024.
SBA 7(a) loan, change of ownership, approved Jul 10, 2024
- Gross approval
- $720,000
- SBA-guaranteed amount
- $540,000 (75% of the approval)
- Lender
- Heritage Bank Inc, Burlington, KY
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 10, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $10,020 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 16, 2024
- Loan status
- Paid in full
- Jobs supported
- 24
- Business type
- Corporation
- NAICS
- 611691, Exam Preparation and Tutoring
- Franchise
- Huntington Learning Center
- Project location
- Placer County, CA
- SBA district office
- Sacramento District Office
- Congressional district
- CA-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Exam Preparation and Tutoring: $1,485,000.
- Average acquisition loan in California: $1,688,228.
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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