Astro Precision Tool & Machine LLC
Astro Precision Tool & Machine LLC is located in Rahway, NJ, and the SBA lists its industry as Machine Shops. It was approved for an SBA 7(a) loan of $3,660,000 for a change of ownership on December 16, 2023.
SBA 7(a) loan, change of ownership, approved Dec 16, 2023
- Gross approval
- $3,660,000
- SBA-guaranteed amount
- $2,745,000 (75% of the approval)
- Lender
- Meridian Bank, Malvern, PA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 23 years, 7 months (283 months)
- Estimated maturity
- July 16, 2047 (estimated, approval date plus term)
- Estimated monthly payment
- $34,999 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 23, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 21
- Business type
- Corporation
- NAICS
- 332710, Machine Shops
- Project location
- Union County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 88% of acquisition loans in Machine Shops on this site.
- Average acquisition loan in Machine Shops: $2,116,278.
- Average acquisition loan in New Jersey: $1,626,307.
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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Same industry in New Jersey
- Oxford Precision LLC, Wood Ridge
- Ferry Machine Corporation, Oakland