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Massbay Home Care Inc

Peabody, MA · Home Health Care Services · NAICS 621610

Massbay Home Care Inc, located in Peabody, MA, operates in home health care services (NAICS 621610). The company was financed with an SBA 7(a) loan for a change of ownership of $955,000, approved on December 23, 2024, by United Midwest Savings Bank National Association.

SBA 7(a) loan, change of ownership, approved Dec 23, 2024

$955,000 approvedLender: United Midwest Savings Bank National Association10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$955,000
SBA-guaranteed amount
$716,250 (75% of the approval)
Lender
United Midwest Savings Bank National Association, De Graff, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
10 years (120 months)
Estimated maturity
December 23, 2034 (estimated, approval date plus term)
Estimated monthly payment
$12,886 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 14, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
63
Business type
Corporation
NAICS
621610, Home Health Care Services
Project location
Essex County, MA
SBA district office
Massachusetts District Office
Congressional district
MA-06
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 29% 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 Massachusetts: $1,643,977.

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 Massachusetts