Employ Maine LLC
Employ Maine LLC is an employment placement agency located in Portland, Maine, in the employment placement agencies industry (NAICS 561311). The company was financed with an SBA 7(a) loan for a change of ownership, approved for $680,000 by Maine Community Bank on September 9, 2024.
SBA 7(a) loan, change of ownership, approved Sep 9, 2024
$680,000 approvedLender: Maine Community Bank6 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $680,000
- SBA-guaranteed amount
- $510,000 (75% of the approval)
- Lender
- Maine Community Bank, Portland, ME
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8%, fixed
- Term
- 6 years (72 months)
- Estimated maturity
- September 9, 2030 (estimated, approval date plus term)
- Estimated monthly payment
- $11,923 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 27, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 109
- Business type
- Corporation
- NAICS
- 561311, Employment Placement Agencies
- Project location
- Cumberland County, ME
- SBA district office
- Maine District Office
- Congressional district
- ME-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 14% of acquisition loans in Employment Placement Agencies on this site.
- Average acquisition loan in Employment Placement Agencies: $2,146,432.
- Average acquisition loan in Maine: $1,448,582.
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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