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Brookside Assisted Living & Farmside Assisted Living

Pine River, MN · Assisted Living Facilities for the Elderly · NAICS 623312

Brookside Assisted Living & Farmside Assisted Living is an assisted living facility for the elderly located in Pine River, Minnesota, classified under NAICS code 623312. The business financed real estate or equipment through an SBA 504 loan of $1,092,000, with First National Bank North as the lender and Midwest Business Finance Corporation as the certified development company, approved on December 2, 2024.

SBA 504 loan, approved Dec 2, 2024

$1,092,000 SBA portionCDC: Midwest Business Finance Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,092,000
Bank portion
$845,000
Estimated project size
$2,152,222 (estimated)
Estimated owner equity
$215,222 (estimated, about 10% of the project)
Bank lender
First National Bank North, Walker, MN
CDC
Midwest Business Finance Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
December 2, 2049 (estimated, approval date plus term)
First disbursement
May 14, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
17
Business type
Corporation
NAICS
623312, Assisted Living Facilities for the Elderly
Project location
Cass County, MN
SBA district office
Minnesota District Office
Congressional district
MN-8
Collateral
Yes

Estimated share of project by source

Bank 39% SBA (CDC) 51% Owner 10%

  • Larger than 6% 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