Jam Hops Gymnastics Factory, Inc.
Jam Hops Gymnastics Factory, Inc. is a sports and recreation instruction business in Ramsey, Minnesota. The company financed real estate or equipment through an SBA 504 loan of $2,426,000, approved on January 31, 2024, with Falcon National Bank as the lending bank and Central Minnesota Development Company as the certified development company.
SBA 504 loan, approved Jan 31, 2024
$2,426,000 SBA portionCDC: Central Minnesota Development Company25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $2,426,000
- Bank portion
- $2,758,000
- Estimated project size
- $5,760,000 (estimated)
- Estimated owner equity
- $576,000 (estimated, about 10% of the project)
- Bank lender
- Falcon National Bank, Foley, MN
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- January 31, 2049 (estimated, approval date plus term)
- First disbursement
- Mar 12, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 50
- Business type
- Corporation
- NAICS
- 611620, Sports and Recreation Instruction
- Project location
- Anoka County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-3
- Collateral
- Yes
Estimated share of project by source
Bank 48% SBA (CDC) 42% Owner 10%
- Larger than 90% of expansion loans in Sports and Recreation Instruction on this site.
- Average expansion loan in Sports and Recreation Instruction: $1,653,800.
- Average expansion loan in Minnesota: $2,136,981.
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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