Seasons Of Life AFC Home, LLC
Seasons Of Life AFC Home, LLC is a residential mental health and substance abuse facility in Lake City, Michigan, classified under NAICS 623220. The company was financed with an SBA 7(a) loan for a change of ownership of $1.2 million, approved on July 18, 2025, through Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Jul 18, 2025
$1,200,000 approvedLender: Live Oak Banking Company15 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,200,000
- SBA-guaranteed amount
- $900,000 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 15 years (180 months)
- Estimated maturity
- July 18, 2040 (estimated, approval date plus term)
- Estimated monthly payment
- $12,712 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 5, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 623220, Residential Mental Health and Substance Abuse Facilities
- Project location
- Missaukee County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 27% of acquisition loans in Residential Mental Health and Substance Abuse Facilities on this site.
- Average acquisition loan in Residential Mental Health and Substance Abuse Facilities: $2,151,627.
- Average acquisition loan in Michigan: $1,645,728.
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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