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Boevaag Plumbing Inc

Prior Lake, MN · Plumbing, Heating, and Air-Conditioning Contractors · NAICS 238220

Boevaag Plumbing Inc, located in Prior Lake, Minnesota, operates in plumbing, heating, and air-conditioning contracting. The company was financed with an SBA 7(a) loan for a change of ownership of $1,293,000, approved by Old National Bank on July 9, 2026.

SBA 7(a) loan, change of ownership, approved Jul 9, 2026

$1,293,000 approvedLender: Old National Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,293,000
SBA-guaranteed amount
$969,750 (75% of the approval)
Lender
Old National Bank, Evansville, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.36%, fixed
Term
10 years (120 months)
Estimated maturity
July 9, 2036 (estimated, approval date plus term)
Estimated monthly payment
$15,935 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 22, 2026
Loan status
Status not reported (SBA exemption)
Jobs supported
7
Business type
Corporation
NAICS
238220, Plumbing, Heating, and Air-Conditioning Contractors
Project location
Scott County, MN
SBA district office
Minnesota District Office
Congressional district
MN-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 46% of acquisition loans in Plumbing, Heating, and Air-Conditioning Contractors on this site.
  • Average acquisition loan in Plumbing, Heating, and Air-Conditioning Contractors: $1,758,508.
  • Average acquisition loan in Minnesota: $1,482,119.

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