Stallworth A.F.C. #1 Corporation
Stallworth A.F.C. #1 Corporation, located in Detroit, Michigan, operates in the assisted living facilities for the elderly industry (NAICS 623312). The company was financed with an SBA 7(a) loan for a change of ownership totaling $2,103,000, approved on April 21, 2026, through Hanover Community Bank.
SBA 7(a) loan, change of ownership, approved Apr 21, 2026
$2,103,000 approvedLender: Hanover Community Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,103,000
- SBA-guaranteed amount
- $1,577,250 (75% of the approval)
- Lender
- Hanover Community Bank, Mineola, NY
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.75%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- April 21, 2051 (estimated, approval date plus term)
- Estimated monthly payment
- $17,290 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 24, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 28
- Business type
- Corporation
- NAICS
- 623312, Assisted Living Facilities for the Elderly
- Project location
- Wayne County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-13
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 70% 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 Michigan: $1,645,728.
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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