AGC Ventures, Inc. dba LA Construction Services
AGC Ventures, Inc. dba LA Construction Services is a painting and wall covering contractor located in Myrtle Beach, South Carolina. The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,000,000 through Colony Bank, approved on June 13, 2024.
SBA 7(a) loan, change of ownership, approved Jun 13, 2024
$1,000,000 approvedLender: Colony Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,000,000
- SBA-guaranteed amount
- $750,000 (75% of the approval)
- Lender
- Colony Bank, Fitzgerald, GA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- June 13, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $13,917 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 26, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 238320, Painting and Wall Covering Contractors
- Project location
- Horry County, SC
- SBA district office
- South Carolina District Office
- Congressional district
- SC-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 59% of acquisition loans in Painting and Wall Covering Contractors on this site.
- Average acquisition loan in Painting and Wall Covering Contractors: $1,429,871.
- Average acquisition loan in South Carolina: $1,827,509.
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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