Modern Tax & Financial Services P.C.
Modern Tax & Financial Services P.C. is an accounting services business located in Torrington, Connecticut, classified under the industry Other Accounting Services. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $775,000, provided by Live Oak Banking Company and approved on May 23, 2025.
SBA 7(a) loan, change of ownership, approved May 23, 2025
$775,000 approvedLender: Live Oak Banking Company17 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $775,000
- SBA-guaranteed amount
- $581,250 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9%, variable
- Term
- 17 years (204 months)
- Estimated maturity
- May 23, 2042 (estimated, approval date plus term)
- Estimated monthly payment
- $7,431 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 5, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 541219, Other Accounting Services
- Project location
- NW Hills County, CT
- SBA district office
- Connecticut District Office
- Congressional district
- CT-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 30% of acquisition loans in Other Accounting Services on this site.
- Average acquisition loan in Other Accounting Services: $1,284,062.
- Average acquisition loan in Connecticut: $1,992,959.
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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