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Lifechoice Hospice LLC

Palatine, IL · Home Health Care Services · NAICS 621610

Lifechoice Hospice LLC is a home health care services business located in Palatine, Illinois, operating in the NAICS 621610 industry. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $2 million, approved on September 27, 2024, through Busey Bank.

SBA 7(a) loan, change of ownership, approved Sep 27, 2024

$2,000,000 approvedLender: Busey Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,000,000
SBA-guaranteed amount
$1,500,000 (75% of the approval)
Lender
Busey Bank, Champaign, IL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.5%, fixed
Term
10 years (120 months)
Estimated maturity
September 27, 2034 (estimated, approval date plus term)
Estimated monthly payment
$24,797 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 15, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
18
Business type
Corporation
NAICS
621610, Home Health Care Services
Project location
Cook County, IL
SBA district office
Illinois District Office
Congressional district
IL-06
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 65% of acquisition loans in Home Health Care Services on this site.
  • Average acquisition loan in Home Health Care Services: $1,778,546.
  • Average acquisition loan in Illinois: $1,796,780.

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 Illinois