Great Lakes Information Technology Solutions, LLC
Great Lakes Information Technology Solutions, LLC is located in Phoenix, Arizona, and is classified under NAICS 519290, Web Search Portals and All Other Information Services. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,460,000, approved by Leader Bank, National Association on February 29, 2024.
SBA 7(a) loan, change of ownership, approved Feb 29, 2024
$1,460,000 approvedLender: Leader Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,460,000
- SBA-guaranteed amount
- $1,095,000 (75% of the approval)
- Lender
- Leader Bank, National Association, Arlington, MA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 28, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $19,905 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 4, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 20
- Business type
- Corporation
- NAICS
- 519290, Web Search Portals and All Other Information Services
- Project location
- Maricopa County, AZ
- SBA district office
- Arizona District Office
- Congressional district
- AZ-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 67% of acquisition loans in Web Search Portals and All Other Information Services on this site.
- Average acquisition loan in Web Search Portals and All Other Information Services: $1,216,958.
- Average acquisition loan in Arizona: $1,690,811.
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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