Riviera Hair Replacement
Riviera Hair Replacement is a beauty salon business located in Syosset, New York, operating in the beauty salons industry. The company was financed with an SBA 7(a) loan for a change of ownership, with an approved loan amount of $829,000 from Live Oak Banking Company, approved on December 18, 2024.
SBA 7(a) loan, change of ownership, approved Dec 18, 2024
$829,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $829,000
- SBA-guaranteed amount
- $621,750 (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
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 18, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $10,841 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 13, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 812112, Beauty Salons
- Project location
- Nassau County, NY
- SBA district office
- New York District Office
- Congressional district
- NY-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 53% of acquisition loans in Beauty Salons on this site.
- Average acquisition loan in Beauty Salons: $1,125,702.
- Average acquisition loan in New York: $1,771,512.
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.
Is this your company? Claim or correct this listing. See Corrections.