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Sarasota Vacation Rentals LLC

Sarasota, FL · Other Activities Related to Real Estate · NAICS 531390

Sarasota Vacation Rentals LLC is a business in Sarasota, Florida, in the other activities related to real estate industry (NAICS 531390), and it operates as an iTrip franchise. The company was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $1,355,000 from North State Bank, approved on June 22, 2024. The loan reported 7 jobs.

SBA 7(a) loan, change of ownership, approved Jun 22, 2024

$1,355,000 approvedLender: North State Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,355,000
SBA-guaranteed amount
$1,016,250 (75% of the approval)
Lender
North State Bank, Raleigh, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11%, variable
Term
10 years (120 months)
Estimated maturity
June 22, 2034 (estimated, approval date plus term)
Estimated monthly payment
$18,665 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 28, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
7
Business type
Corporation
NAICS
531390, Other Activities Related to Real Estate
Franchise
iTrip
Project location
Sarasota County, FL
SBA district office
South Florida District Office
Congressional district
FL-16
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 59% of acquisition loans in Other Activities Related to Real Estate on this site.
  • Average acquisition loan in Other Activities Related to Real Estate: $1,530,355.
  • Average acquisition loan in Florida: $1,808,559.

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 Florida