Stan's Equipment Center
Stan's Equipment Center is an outdoor power equipment retailer in Pine City, Minnesota, classified under NAICS code 444230. The business was financed with an SBA 7(a) loan for a change of ownership of $600,000, provided by Frandsen Bank and Trust with approval dated December 19, 2024.
SBA 7(a) loan, change of ownership, approved Dec 19, 2024
$600,000 approvedLender: Frandsen Bank and Trust10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $600,000
- SBA-guaranteed amount
- $450,000 (75% of the approval)
- Lender
- Frandsen Bank and Trust, Arden Hills, MN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 19, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,180 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 27, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 444230, Outdoor Power Equipment Retailers
- Project location
- Pine County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-08
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Outdoor Power Equipment Retailers: $1,637,484.
- 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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Same industry in Minnesota
- SW Power Equipment LLC, Eden Prairie
- Smith Family Ventures, LLC, Alexandria