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Prestige House LLC

Bellevue, WA · Assisted Living Facilities for the Elderly · NAICS 623312

Prestige House LLC, located in Bellevue, WA, is an assisted living facility for the elderly (NAICS 623312). The company was financed with an SBA 7(a) loan for a change of ownership of $1.6 million, approved on January 26, 2024, through Commonwealth Business Bank.

SBA 7(a) loan, change of ownership, approved Jan 26, 2024

$1,622,000 approvedLender: Commonwealth Business Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,622,000
SBA-guaranteed amount
$1,216,500 (75% of the approval)
Lender
Commonwealth Business Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
25 years (300 months)
Estimated maturity
January 26, 2049 (estimated, approval date plus term)
Estimated monthly payment
$14,454 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 9, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
623312, Assisted Living Facilities for the Elderly
Project location
King County, WA
SBA district office
Seattle District Office
Congressional district
WA-01
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 61% of acquisition loans in Assisted Living Facilities for the Elderly on this site.
  • Average acquisition loan in Assisted Living Facilities for the Elderly: $1,782,411.
  • Average acquisition loan in Washington: $1,784,595.

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 Washington