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Innovative Builders of Alexandria, Inc.

Alexandria, MN · Commercial and Institutional Building Construction · NAICS 236220

Innovative Builders of Alexandria, Inc. is a commercial and institutional building construction business in Alexandria, Minnesota, classified under NAICS code 236220. It was financed with an SBA 7(a) loan for a change of ownership of $4,378,000 from Glenwood State Bank Incorporated, approved on November 29, 2024.

SBA 7(a) loan, change of ownership, approved Nov 29, 2024

$4,378,000 approvedLender: Glenwood State Bank Incorporated10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,378,000
SBA-guaranteed amount
$3,283,500 (75% of the approval)
Lender
Glenwood State Bank Incorporated, Glenwood, MN
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
6.95%, fixed
Term
10 years (120 months)
Estimated maturity
November 29, 2034 (estimated, approval date plus term)
Estimated monthly payment
$50,720 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 2, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
40
Business type
Corporation
NAICS
236220, Commercial and Institutional Building Construction
Project location
Douglas County, MN
SBA district office
Minnesota District Office
Congressional district
MN-07
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 76% of acquisition loans in Commercial and Institutional Building Construction on this site.
  • Average acquisition loan in Commercial and Institutional Building Construction: $2,773,374.
  • 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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