Southern Magnolia Adult Day Healthcare, LLC
Southern Magnolia Adult Day Healthcare, LLC, located in Sunset, LA, operates in the Other Residential Care Facilities industry (NAICS 623990). The company was financed with an SBA 7(a) loan for a change of ownership of $1.55 million, approved on March 13, 2025 by Rayne State Bank & Trust Company.
SBA 7(a) loan, change of ownership, approved Mar 13, 2025
$1,550,000 approvedLender: Rayne State Bank & Trust Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,550,000
- SBA-guaranteed amount
- $1,162,500 (75% of the approval)
- Lender
- Rayne State Bank & Trust Company, Rayne, LA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 9.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- March 13, 2050 (estimated, approval date plus term)
- Estimated monthly payment
- $13,274 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 10, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 23
- Business type
- Corporation
- NAICS
- 623990, Other Residential Care Facilities
- Project location
- Saint Landry County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Other Residential Care Facilities: $1,301,729.
- Average acquisition loan in Louisiana: $1,702,056.
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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