Eluvayt Law LLC
Eluvayt Law LLC is an office of lawyers located in Andover, Massachusetts (NAICS 541110). The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $985,000, approved on May 10, 2024, through Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved May 10, 2024
$985,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $985,000
- SBA-guaranteed amount
- $738,750 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.71%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 10, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,859 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 23, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 541110, Offices of Lawyers
- Project location
- Essex County, MA
- SBA district office
- Massachusetts District Office
- Congressional district
- MA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 21% of acquisition loans in Offices of Lawyers on this site.
- Average acquisition loan in Offices of Lawyers: $1,606,779.
- Average acquisition loan in Massachusetts: $1,643,977.
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.
Is this your company? Claim or correct this listing. See Corrections.