Hotsy Minnesota
Hotsy Minnesota is a business in Baxter, MN, classified under the industry All Other Miscellaneous Retailers (NAICS 459999). The company was financed with an SBA 7(a) loan for a change of ownership of $545,000, approved on November 21, 2024, through Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Nov 21, 2024
$545,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $545,000
- SBA-guaranteed amount
- $408,750 (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
- 8%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- November 21, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $4,206 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 2, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 15
- Business type
- Corporation
- NAICS
- 459999, All Other Miscellaneous Retailers
- Project location
- Crow Wing County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-08
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 5% of acquisition loans in All Other Miscellaneous Retailers on this site.
- Average acquisition loan in All Other Miscellaneous Retailers: $1,546,818.
- 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
- Ditv LLC, Golden Valley