Options for Senior America Corporation
Options for Senior America Corporation, located in Gaithersburg, Maryland, operates in the All Other Professional, Scientific, and Technical Services industry (NAICS 541990). The company was financed with an SBA 7(a) loan for a change of ownership of $2.85 million, approved April 3, 2024, through Live Oak Banking Company, with 9 jobs reported.
SBA 7(a) loan, change of ownership, approved Apr 3, 2024
$2,850,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,850,000
- SBA-guaranteed amount
- $2,137,500 (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
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 3, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $38,059 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 541990, All Other Professional, Scientific, and Technical Services
- Project location
- Montgomery County, MD
- SBA district office
- Washington District Office
- Congressional district
- MD-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 84% of acquisition loans in All Other Professional, Scientific, and Technical Services on this site.
- Average acquisition loan in All Other Professional, Scientific, and Technical Services: $1,682,572.
- Average acquisition loan in Maryland: $1,627,337.
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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