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Pratt Family Chiropractic, LLC

Rochester, MN · Offices of Chiropractors · NAICS 621310

Pratt Family Chiropractic, LLC is an offices of chiropractors business located in Rochester, Minnesota. The company was financed with an SBA 7(a) loan for a change of ownership of $512,200, approved on March 25, 2024 by lender BankVista.

SBA 7(a) loan, change of ownership, approved Mar 25, 2024

$512,200 approvedLender: BankVista10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$512,200
SBA-guaranteed amount
$384,150 (75% of the approval)
Lender
BankVista, Sartell, MN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.25%, variable
Term
10 years (120 months)
Estimated maturity
March 25, 2034 (estimated, approval date plus term)
Estimated monthly payment
$7,128 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 1, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
621310, Offices of Chiropractors
Project location
Olmsted County, MN
SBA district office
Minnesota District Office
Congressional district
MN-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 12% of acquisition loans in Offices of Chiropractors on this site.
  • Average acquisition loan in Offices of Chiropractors: $1,068,282.
  • 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