House Excavation LLC
House Excavation LLC is located in Arthur, ND, and the SBA lists its industry as Site Preparation Contractors. It was approved for an SBA 7(a) loan of $766,300 for a change of ownership on February 23, 2024.
SBA 7(a) loan, change of ownership, approved Feb 23, 2024
- Gross approval
- $766,300
- SBA-guaranteed amount
- $574,725 (75% of the approval)
- Lender
- Bell Bank, Fargo, ND
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 23, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $10,340 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 27, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 238910, Site Preparation Contractors
- Project location
- Cass County, ND
- SBA district office
- North Dakota District Office
- Congressional district
- ND-00
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 15% of acquisition loans in Site Preparation Contractors on this site.
- Average acquisition loan in Site Preparation Contractors: $1,877,202.
- Average acquisition loan in North Dakota: $1,899,142.
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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