Lakeshore Transportation Inc
Lakeshore Transportation Inc, located in Ossian, Iowa, operates in the ambulance services industry (NAICS 621910). The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $879,500, approved on February 17, 2025, through The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Feb 17, 2025
$879,500 approvedLender: The Huntington National Bank10 years termPaid in fullLoan details
- Gross approval
- $879,500
- SBA-guaranteed amount
- $659,625 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 17, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $11,381 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 12, 2025
- Loan status
- Paid in full
- Jobs supported
- 20
- Business type
- Corporation
- NAICS
- 621910, Ambulance Services
- Project location
- Winneshiek County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Ambulance Services: $1,257,938.
- Average acquisition loan in Iowa: $1,701,244.
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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