Always Brothers, Inc
Always Brothers, Inc is located in South Lyon, MI, and the SBA lists its industry as Beer, Wine, and Liquor Stores. It was approved for an SBA 7(a) loan of $1,680,000 for a change of ownership on October 21, 2023.
SBA 7(a) loan, change of ownership, approved Oct 21, 2023
- Gross approval
- $1,680,000
- SBA-guaranteed amount
- $1,260,000 (75% of the approval)
- Lender
- First Internet Bank of Indiana, Fishers, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- October 21, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $22,669 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 2, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 23
- Business type
- Corporation
- NAICS
- 445310, Beer, Wine, and Liquor Stores
- Project location
- Livingston County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Beer, Wine, and Liquor Stores: $1,453,500.
- Average acquisition loan in Michigan: $1,645,728.
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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