Face & Body LLC
Face & Body LLC is located in Glastonbury, CT, and the SBA lists its industry as Other Personal Care Services. It was approved for an SBA 7(a) loan of $850,000 for a change of ownership on March 1, 2024.
SBA 7(a) loan, change of ownership, approved Mar 1, 2024
- Gross approval
- $850,000
- SBA-guaranteed amount
- $637,500 (75% of the approval)
- Lender
- United Midwest Savings Bank National Association, De Graff, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 1, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $11,589 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 15, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 17
- Business type
- Corporation
- NAICS
- 812199, Other Personal Care Services
- Project location
- Hartford County, CT
- SBA district office
- Connecticut District Office
- Congressional district
- CT-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 34% of acquisition loans in Other Personal Care Services on this site.
- Average acquisition loan in Other Personal Care Services: $1,410,088.
- Average acquisition loan in Connecticut: $1,992,959.
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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