17 Mile Holdings LLC
17 Mile Holdings LLC is an electrical contracting business in Houston, Texas, in the Electrical Contractors and Other Wiring Installation Contractors industry (NAICS 238210). The company was financed with an SBA 7(a) loan for a change of ownership of $3.47 million, approved on July 22, 2024 by Gulf Coast Bank and Trust Company.
SBA 7(a) loan, change of ownership, approved Jul 22, 2024
$3,470,000 approvedLender: Gulf Coast Bank and Trust Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,470,000
- SBA-guaranteed amount
- $2,602,500 (75% of the approval)
- Lender
- Gulf Coast Bank and Trust Company, New Orleans, LA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 22, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $47,310 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 238210, Electrical Contractors and Other Wiring Installation Contractors
- Project location
- Harris County, TX
- SBA district office
- Houston District Office
- Congressional district
- TX-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 87% of acquisition loans in Electrical Contractors and Other Wiring Installation Contractors on this site.
- Average acquisition loan in Electrical Contractors and Other Wiring Installation Contractors: $1,890,316.
- Average acquisition loan in Texas: $1,944,682.
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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