Prestige Msp, LLC
Prestige Msp, LLC is a used household and office goods moving business in Rochester, Minnesota, operating under NAICS code 484210. The company was financed with an SBA 7(a) loan for a change of ownership totaling $965,000, with Farmers and Merchants Savings Bank as the lender and an approval date of January 14, 2025.
SBA 7(a) loan, change of ownership, approved Jan 14, 2025
- Gross approval
- $965,000
- SBA-guaranteed amount
- $723,750 (75% of the approval)
- Lender
- Farmers and Merchants Savings Bank, Manchester, IA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 8.75%, variable
- Term
- 15 years (180 months)
- Estimated maturity
- January 14, 2040 (estimated, approval date plus term)
- Estimated monthly payment
- $9,645 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 16, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 22
- Business type
- Corporation
- NAICS
- 484210, Used Household and Office Goods Moving
- Project location
- Olmsted County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 31% of acquisition loans in Used Household and Office Goods Moving on this site.
- Average acquisition loan in Used Household and Office Goods Moving: $1,726,088.
- 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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