Advanced Metal Products
Advanced Metal Products, located in Charlotte, NC, operates in the Rolling Mill and Other Metalworking Machinery Manufacturing industry (NAICS 333519). The company was financed with an SBA 7(a) loan for a change of ownership of $4.7 million, approved on December 23, 2024, through Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Dec 23, 2024
$4,700,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,700,000
- SBA-guaranteed amount
- $3,525,000 (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
- 9%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- December 23, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $39,442 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 2, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 31
- Business type
- Corporation
- NAICS
- 333519, Rolling Mill and Other Metalworking Machinery Manufacturing
- Project location
- Mecklenburg County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-12
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Rolling Mill and Other Metalworking Machinery Manufacturing: $4,766,000.
- Average acquisition loan in North Carolina: $1,952,444.
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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