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A Janesville Senior Living LLC

Janesville, MN · Assisted Living Facilities for the Elderly · NAICS 623312

A Janesville Senior Living LLC, located in Janesville, Minnesota, operates in the assisted living facilities for the elderly industry (NAICS 623312). The company financed real estate or equipment through an SBA 504 loan of $1,528,000 approved on November 1, 2024, with Glenwood State Bank as the lender and Midwest Business Finance Corporation as the certified development company.

SBA 504 loan, approved Nov 1, 2024

$1,528,000 SBA portionCDC: Midwest Business Finance Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,528,000
Bank portion
$2,125,000
Estimated project size
$4,058,889 (estimated)
Estimated owner equity
$405,889 (estimated, about 10% of the project)
Bank lender
Glenwood State Bank, Glenwood, IA
CDC
Midwest Business Finance Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
November 1, 2049 (estimated, approval date plus term)
First disbursement
Jan 15, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
15
Business type
Corporation
NAICS
623312, Assisted Living Facilities for the Elderly
Project location
Waseca County, MN
SBA district office
Minnesota District Office
Congressional district
MN-1
Collateral
Yes

Estimated share of project by source

Bank 52% SBA (CDC) 38% Owner 10%

  • Larger than 42% 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 Minnesota: $2,136,981.

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 Minnesota