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Sunrise Village of Milaca

Milaca, MN · Assisted Living Facilities for the Elderly · NAICS 623312

Sunrise Village of Milaca is an assisted living facility for the elderly located in Milaca, Minnesota, in the NAICS 623312 industry. The company financed real estate or equipment through an SBA 504 loan with an SBA portion of $1,915,000 and a total project amount of $2,675,000, approved on February 16, 2024, with Bank Five Nine as the lending bank and Twin Cities-Metro Certified Development Company as the certified development company.

SBA 504 loan, approved Feb 16, 2024

$1,915,000 SBA portionCDC: Twin Cities-Metro Certified Development Company25 years termPaid in fullLoan details
SBA (CDC) portion
$1,915,000
Bank portion
$2,675,000
Estimated project size
$5,100,000 (estimated)
Estimated owner equity
$510,000 (estimated, about 10% of the project)
Bank lender
Bank Five Nine, Oconomowoc, WI
CDC
Twin Cities-Metro Certified Development Company
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
February 16, 2049 (estimated, approval date plus term)
First disbursement
Apr 16, 2025
Loan status
Paid in full
Jobs supported
2
Business type
Corporation
NAICS
623312, Assisted Living Facilities for the Elderly
Project location
Mille Lacs County, MN
SBA district office
Minnesota District Office
Congressional district
MN-8
Collateral
Yes

Estimated share of project by source

Bank 52% SBA (CDC) 38% Owner 10%

  • Larger than 61% of expansion loans in Assisted Living Facilities for the Elderly on this site.
  • Average expansion loan in Assisted Living Facilities for the Elderly: $1,996,284.
  • Average expansion loan in Minnesota: $2,136,981.

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