Hampton Manor of Auburn LLC
Hampton Manor of Auburn LLC is an assisted living facility for the elderly in Auburn, Michigan, classified under NAICS code 623312. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1,925,000, approved on July 17, 2024, through Team One CU.
SBA 7(a) loan, change of ownership, approved Jul 17, 2024
$1,925,000 approvedLender: Team One CU25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,925,000
- SBA-guaranteed amount
- $1,443,750 (75% of the approval)
- Lender
- Team One CU, Saginaw, MI
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- July 17, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $17,492 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 29, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 21
- Business type
- Corporation
- NAICS
- 623312, Assisted Living Facilities for the Elderly
- Project location
- Bay County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 68% of acquisition loans in Assisted Living Facilities for the Elderly on this site.
- Average acquisition loan in Assisted Living Facilities for the Elderly: $1,782,411.
- Average acquisition loan in Michigan: $1,645,728.
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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