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Healthnorth, Inc.

Minneapolis, MN · Home Health Care Services · NAICS 621610

Healthnorth, Inc. is a home health care services business located in Minneapolis, Minnesota, classified under NAICS code 621610. The company was financed with an SBA 7(a) loan for a change of ownership totaling $2,115,000, approved on July 31, 2025, through lender BankVista.

SBA 7(a) loan, change of ownership, approved Jul 31, 2025

$2,115,000 approvedLender: BankVista126 months termStatus not reported (SBA exemption)Loan details
Gross approval
$2,115,000
SBA-guaranteed amount
$1,586,250 (75% of the approval)
Lender
BankVista, Sartell, MN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.5%, variable
Term
10 years, 6 months (126 months)
Estimated maturity
January 31, 2036 (estimated, approval date plus term)
Estimated monthly payment
$25,432 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 8, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
300
Business type
Corporation
NAICS
621610, Home Health Care Services
Project location
Hennepin County, MN
SBA district office
Minnesota District Office
Congressional district
MN-05
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 68% of acquisition loans in Home Health Care Services on this site.
  • Average acquisition loan in Home Health Care Services: $1,778,546.
  • Average acquisition loan in Minnesota: $1,482,119.

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 Minnesota