Genesis 5 N Properties, LLC
Genesis 5 N Properties, LLC is located in North Little Rock, AR, and the SBA lists its industry as Lessors of Miniwarehouses and Self-Storage Units. It was approved for an SBA 7(a) loan of $693,000 for a change of ownership on January 10, 2024.
SBA 7(a) loan, change of ownership, approved Jan 10, 2024
- Gross approval
- $693,000
- SBA-guaranteed amount
- $519,750 (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
- 10%, variable
- Term
- 26 years (312 months)
- Estimated maturity
- January 10, 2050 (estimated, approval date plus term)
- Estimated monthly payment
- $6,244 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 10, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 531130, Lessors of Miniwarehouses and Self-Storage Units
- Project location
- Pulaski County, AR
- SBA district office
- Arkansas District Office
- Congressional district
- AR-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 16% of acquisition loans in Lessors of Miniwarehouses and Self-Storage Units on this site.
- Average acquisition loan in Lessors of Miniwarehouses and Self-Storage Units: $1,454,898.
- Average acquisition loan in Arkansas: $2,003,702.
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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Same industry in Arkansas
- Hot Springs Self Storage LLC, Hot Springs National Park