Westbrook Assisted Living
Westbrook Assisted Living, located in Geneva, Alabama, operates in the assisted living facilities for the elderly industry (NAICS 623312). The business was financed with an SBA 7(a) loan for a change of ownership, in the amount of $676,000, approved on July 22, 2024, by Harvest Small Business Finance, LLC.
SBA 7(a) loan, change of ownership, approved Jul 22, 2024
$676,000 approvedLender: Harvest Small Business Finance, LLC25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $676,000
- SBA-guaranteed amount
- $507,000 (75% of the approval)
- Lender
- Harvest Small Business Finance, LLC, Laguna Hills, CA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- July 22, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $6,748 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Business type
- Corporation
- NAICS
- 623312, Assisted Living Facilities for the Elderly
- Project location
- Geneva County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 4% of acquisition loans in Assisted Living Facilities for the Elderly on this site.
- Average acquisition loan in Assisted Living Facilities for the Elderly: $1,782,411.
- Average acquisition loan in Alabama: $1,764,717.
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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