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Saugus Rehabilitation & Nursing Center

Saugus, MA · Assisted Living Facilities for the Elderly · NAICS 623312

Saugus Rehabilitation & Nursing Center is an assisted living facility for the elderly in Saugus, Massachusetts. The company financed real estate or equipment through an SBA 504 loan of $1.7 million, approved on August 9, 2024, with Celtic Bank Corporation as the lender and New England Certified Development Corporation as the certified development company.

SBA 504 loan, approved Aug 9, 2024

$1,700,000 SBA portionCDC: New England Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,700,000
Bank portion
$4,065,976
Estimated project size
$6,406,640 (estimated)
Estimated owner equity
$640,664 (estimated, about 10% of the project)
Bank lender
Celtic Bank Corporation, Salt Lake City, UT
CDC
New England Certified Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
August 9, 2049 (estimated, approval date plus term)
First disbursement
Oct 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
623312, Assisted Living Facilities for the Elderly
Project location
Essex County, MA
SBA district office
Massachusetts District Office
Congressional district
MA-6
Collateral
Yes

Estimated share of project by source

Bank 63% SBA (CDC) 27% Owner 10%

  • Larger than 51% of expansion loans in Assisted Living Facilities for the Elderly on this site.
  • Average expansion loan in Assisted Living Facilities for the Elderly: $1,996,284.
  • Average expansion loan in Massachusetts: $2,009,683.

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 Massachusetts