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Family Health Solutions LLC

Minneapolis, MN · Home Health Care Services · NAICS 621610

Family Health Solutions LLC is a home health care services business in Minneapolis, Minnesota, classified under NAICS code 621610. The company was financed with an SBA 7(a) loan for a change of ownership of $2.2 million, approved on April 5, 2024, by Old National Bank, and the business is a franchise of Visiting Angels.

SBA 7(a) loan, change of ownership, approved Apr 5, 2024

$2,156,100 approvedLender: Old National Bank119 months termStatus not reported (SBA exemption)Loan details
Gross approval
$2,156,100
SBA-guaranteed amount
$1,617,075 (75% of the approval)
Lender
Old National Bank, Evansville, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.99%, fixed
Term
9 years, 11 months (119 months)
Estimated maturity
March 5, 2034 (estimated, approval date plus term)
Estimated monthly payment
$26,292 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 10, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
45
Business type
Corporation
NAICS
621610, Home Health Care Services
Franchise
Visiting Angels
Project location
Hennepin County, MN
SBA district office
Minnesota District Office
Congressional district
MN-05
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 70% of acquisition loans in Home Health Care Services on this site.
  • Average acquisition loan in Home Health Care Services: $1,778,546.
  • 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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