Anchor Innovation, Inc.
Anchor Innovation, Inc. is located in Virginia Beach, VA, and the SBA lists its industry as Ship Building and Repairing. It was approved for an SBA 7(a) loan of $3,800,000 for a change of ownership on December 7, 2023. This registry lists 2 loans for the company.
SBA 7(a) loan, change of ownership, approved Dec 7, 2023
- Gross approval
- $3,800,000
- SBA-guaranteed amount
- $2,850,000 (75% of the approval)
- Lender
- WesBanco Bank, Inc., Wheeling, WV
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 7, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $50,745 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 15, 2024
- Loan status
- Paid in full
- Jobs supported
- 112
- Business type
- Corporation
- NAICS
- 336611, Ship Building and Repairing
- Project location
- Virginia Beach City County, VA
- SBA district office
- Richmond District Office
- Congressional district
- VA-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Ship Building and Repairing: $1,694,333.
- Average acquisition loan in Virginia: $1,860,760.
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.
SBA 7(a) loan, change of ownership, approved Nov 18, 2023
- Gross approval
- $500,000
- SBA-guaranteed amount
- $250,000 (50% of the approval)
- Lender
- WesBanco Bank, Inc., Wheeling, WV
- Processing method
- SBA Express: streamlined process using the lender's own procedures, with a smaller SBA guarantee
- Initial interest rate
- 10.25%, variable
- Term
- 1 year (12 months)
- Estimated maturity
- November 18, 2024 (estimated, approval date plus term)
- Estimated monthly payment
- $44,016 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 13, 2024
- Loan status
- Paid in full
- Jobs supported
- 112
- Business type
- Corporation
- NAICS
- 336611, Ship Building and Repairing
- Project location
- Virginia Beach City County, VA
- SBA district office
- Richmond District Office
- Congressional district
- VA-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- Yes
- Average acquisition loan in Ship Building and Repairing: $1,694,333.
- Average acquisition loan in Virginia: $1,860,760.
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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