Great Lakes Tax Group LLC
Great Lakes Tax Group LLC is an accounting services business in Castilla, Ohio, classified under NAICS 541219 (Other Accounting Services). The company was financed with an SBA 7(a) loan for a change of ownership of $1.25 million, approved on November 30, 2023, through United Midwest Savings Bank National Association.
SBA 7(a) loan, change of ownership, approved Nov 30, 2023
$1,250,000 approvedLender: United Midwest Savings Bank National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,250,000
- SBA-guaranteed amount
- $937,500 (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
- November 30, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $17,042 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 5, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 541219, Other Accounting Services
- Project location
- Erie County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 65% of acquisition loans in Other Accounting Services on this site.
- Average acquisition loan in Other Accounting Services: $1,284,062.
- Average acquisition loan in Ohio: $1,840,340.
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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