Air Works of Alabama, LLC
Air Works of Alabama, LLC is a plumbing, heating, and air-conditioning contractor located in Theodore, Alabama. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $1,498,000, approved on March 15, 2024 by GBank.
SBA 7(a) loan, change of ownership, approved Mar 15, 2024
$1,498,000 approvedLender: GBank150 months termPaid in fullLoan details
- Gross approval
- $1,498,000
- SBA-guaranteed amount
- $1,123,500 (75% of the approval)
- Lender
- GBank, Las Vegas, NV
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 12 years, 6 months (150 months)
- Estimated maturity
- September 15, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $18,642 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 22, 2024
- Loan status
- Paid in full
- Jobs supported
- 15
- Business type
- Corporation
- NAICS
- 238220, Plumbing, Heating, and Air-Conditioning Contractors
- Project location
- Mobile County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 54% of acquisition loans in Plumbing, Heating, and Air-Conditioning Contractors on this site.
- Average acquisition loan in Plumbing, Heating, and Air-Conditioning Contractors: $1,758,508.
- Average acquisition loan in Alabama: $1,764,717.
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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