Summer Breeze Campground, LLC
Summer Breeze Campground, LLC is located in Iron Mountain, MI, and the SBA lists its industry as RV (Recreational Vehicle) Parks and Campgrounds. It was approved for an SBA 7(a) loan of $875,000 for a change of ownership on February 7, 2024.
SBA 7(a) loan, change of ownership, approved Feb 7, 2024
- Gross approval
- $875,000
- SBA-guaranteed amount
- $656,250 (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
- 10.5%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- February 7, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $8,262 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 29, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 721211, RV (Recreational Vehicle) Parks and Campgrounds
- Project location
- Dickinson County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 24% of acquisition loans in RV (Recreational Vehicle) Parks and Campgrounds on this site.
- Average acquisition loan in RV (Recreational Vehicle) Parks and Campgrounds: $1,687,172.
- 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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Same industry in Michigan
- Sturgeon Valley Campground, Wolverine
- Okb Hospitality LLC, Harrison