Prestige Msp, LLC
Prestige Msp, LLC is located in Rochester, MN, and the SBA lists its industry as Used Household and Office Goods Moving. It was approved for an SBA 7(a) loan of $965,000 for a change of ownership on January 14, 2025.
SBA 7(a) loan, change of ownership, approved Jan 14, 2025
- Gross approval
- $965,000
- SBA-guaranteed amount
- $723,750 (75% of the approval)
- Lender
- Farmers and Merchants Savings Bank, Manchester, IA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 8.75%, variable
- Term
- 15 years (180 months)
- Estimated maturity
- January 14, 2040 (estimated, approval date plus term)
- Estimated monthly payment
- $9,645 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 16, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 22
- Business type
- Corporation
- NAICS
- 484210, Used Household and Office Goods Moving
- Project location
- Olmsted County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 31% of acquisition loans in Used Household and Office Goods Moving on this site.
- Average acquisition loan in Used Household and Office Goods Moving: $1,726,088.
- Average acquisition loan in Minnesota: $1,482,119.
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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