Midwest Mobile Waterjet
Midwest Mobile Waterjet is a remediation services business in Saint Paul, Minnesota, classified under NAICS 562910. The company financed real estate or equipment through an SBA 504 loan of $1,190,000 approved on November 8, 2024, through North Star Bank.
SBA 504 loan, approved Nov 8, 2024
$1,190,000 SBA portionCDC: WBD, Inc.25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,190,000
- Bank portion
- $1,452,500
- Estimated project size
- $2,936,111 (estimated)
- Estimated owner equity
- $293,611 (estimated, about 10% of the project)
- Bank lender
- North Star Bank, Roseville, MN
- CDC
- WBD, Inc.
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- November 8, 2049 (estimated, approval date plus term)
- First disbursement
- Mar 12, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 562910, Remediation Services
- Project location
- Ramsey County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-2
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Remediation Services: $1,987,250.
- 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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