American Fastening Technologies Company Inc.
American Fastening Technologies Company Inc. is a hardware merchant wholesaler in Gibsonia, PA, classified under NAICS 423710. The business was financed with an SBA 7(a) loan for a change of ownership of $1,998,000, approved by The Huntington National Bank on March 20, 2024.
SBA 7(a) loan, change of ownership, approved Mar 20, 2024
$1,998,000 approvedLender: The Huntington National Bank179 months termPaid in fullLoan details
- Gross approval
- $1,998,000
- SBA-guaranteed amount
- $1,498,500 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.99%, fixed
- Term
- 14 years, 11 months (179 months)
- Estimated maturity
- February 20, 2039 (estimated, approval date plus term)
- Estimated monthly payment
- $20,307 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 28, 2024
- Loan status
- Paid in full
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 423710, Hardware Merchant Wholesalers
- Project location
- Allegheny County, PA
- SBA district office
- Pittsburgh District Office
- Congressional district
- PA-16
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 27% of acquisition loans in Hardware Merchant Wholesalers on this site.
- Average acquisition loan in Hardware Merchant Wholesalers: $2,843,818.
- Average acquisition loan in Pennsylvania: $1,636,965.
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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