Freeda Health LLC
Freeda Health LLC is a business in Brick, New Jersey, in the drugs and druggists' sundries merchant wholesalers industry (NAICS 424210). The company was financed with an SBA 7(a) loan for a change of ownership of $1,231,000, approved on February 27, 2025, through lender FinWise Bank.
SBA 7(a) loan, change of ownership, approved Feb 27, 2025
$1,231,000 approvedLender: FinWise Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,231,000
- SBA-guaranteed amount
- $923,250 (75% of the approval)
- Lender
- FinWise Bank, Murray, UT
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 27, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $16,439 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 26, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 424210, Drugs and Druggists' Sundries Merchant Wholesalers
- Project location
- Ocean County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Drugs and Druggists' Sundries Merchant Wholesalers: $2,586,300.
- Average acquisition loan in New Jersey: $1,626,307.
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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