The Amish Connection Inc.
The Amish Connection Inc. is located in Albuquerque, NM, and the SBA lists its industry as Furniture Retailers. It was approved for an SBA 7(a) loan of $816,700 for a change of ownership on February 25, 2024.
SBA 7(a) loan, change of ownership, approved Feb 25, 2024
- Gross approval
- $816,700
- SBA-guaranteed amount
- $612,525 (75% of the approval)
- Lender
- Century Bank, Santa Fe, NM
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 25, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $10,346 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 3, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 449110, Furniture Retailers
- Project location
- Bernalillo County, NM
- SBA district office
- New Mexico District Office
- Congressional district
- NM-01
- 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 Furniture Retailers on this site.
- Average acquisition loan in Furniture Retailers: $1,875,127.
- Average acquisition loan in New Mexico: $1,985,089.
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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