Art Leaders Gallery
Art Leaders Gallery, located in West Bloomfield, Michigan, operates in the art dealers industry (NAICS 459920). The business was financed with an SBA 7(a) loan for a change of ownership of $1,980,000, approved on March 20, 2025, by First Internet Bank of Indiana.
SBA 7(a) loan, change of ownership, approved Mar 20, 2025
$1,980,000 approvedLender: First Internet Bank of Indiana10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,980,000
- SBA-guaranteed amount
- $1,485,000 (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
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 20, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $26,441 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 23, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 459920, Art Dealers
- Project location
- Oakland County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-14
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Art Dealers: $1,980,000.
- 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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