Platinum Property Holdings LLC
Platinum Property Holdings LLC is a residential property management business in Mason City, Iowa, classified under NAICS code 531311. The company was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $682,500, approved through Clear Lake Bank & Trust Company on April 20, 2024.
SBA 7(a) loan, change of ownership, approved Apr 20, 2024
$682,500 approvedLender: Clear Lake Bank & Trust Company20 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $682,500
- SBA-guaranteed amount
- $511,875 (75% of the approval)
- Lender
- Clear Lake Bank & Trust Company, Clear Lake, IA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.87%, fixed
- Term
- 20 years (240 months)
- Estimated maturity
- April 20, 2044 (estimated, approval date plus term)
- Estimated monthly payment
- $5,654 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 26, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 531311, Residential Property Managers
- Project location
- Cerro Gordo County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 24% of acquisition loans in Residential Property Managers on this site.
- Average acquisition loan in Residential Property Managers: $1,260,244.
- Average acquisition loan in Iowa: $1,701,244.
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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