Stonebrook Fence
Stonebrook Fence is located in Lakeville, MN, and the SBA lists its industry as Other Foundation, Structure, and Building Exterior Contractors. It was approved for an SBA 7(a) loan of $1,781,000 for a change of ownership on June 3, 2024.
SBA 7(a) loan, change of ownership, approved Jun 3, 2024
- Gross approval
- $1,781,000
- SBA-guaranteed amount
- $1,335,750 (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
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- June 3, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $24,786 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 7, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 34
- Business type
- Corporation
- NAICS
- 238190, Other Foundation, Structure, and Building Exterior Contractors
- Project location
- Dakota County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 60% of acquisition loans in Other Foundation, Structure, and Building Exterior Contractors on this site.
- Average acquisition loan in Other Foundation, Structure, and Building Exterior Contractors: $1,808,077.
- 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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