50 Milford Street Ext Plainville Ct, LLC
50 Milford Street Ext Plainville Ct, LLC is a business in Plainville, CT, in the industry of all other miscellaneous fabricated metal product manufacturing (NAICS 332999). It was financed with an SBA 7(a) loan for a change of ownership of $778,500, approved on October 9, 2024, through Santander Bank, National Association, with a 300-month term.
SBA 7(a) loan, change of ownership, approved Oct 9, 2024
$778,500 approvedLender: Santander Bank, National Association25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $778,500
- SBA-guaranteed amount
- $583,875 (75% of the approval)
- Lender
- Santander Bank, National Association, Wilmington, DE
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 6.45%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- October 9, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $5,232 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 5, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 332999, All Other Miscellaneous Fabricated Metal Product Manufacturing
- Project location
- Capitol County, CT
- SBA district office
- Connecticut District Office
- Congressional district
- CT-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 23% of acquisition loans in All Other Miscellaneous Fabricated Metal Product Manufacturing on this site.
- Average acquisition loan in All Other Miscellaneous Fabricated Metal Product Manufacturing: $2,156,280.
- Average acquisition loan in Connecticut: $1,992,959.
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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