Bear Creek Fabrication LLC
Bear Creek Fabrication LLC is located in Bear Creek, North Carolina, and operates in fabricated structural metal manufacturing (NAICS 332312). The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $5,000,000, approved on July 22, 2024, by First-Citizens Bank & Trust Company.
SBA 7(a) loan, change of ownership, approved Jul 22, 2024
$5,000,000 approvedLender: First-Citizens Bank & Trust Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $5,000,000
- SBA-guaranteed amount
- $3,750,000 (75% of the approval)
- Lender
- First-Citizens Bank & Trust Company, Raleigh, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.95%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- July 22, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $60,532 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 29, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 21
- Business type
- Corporation
- NAICS
- 332312, Fabricated Structural Metal Manufacturing
- Project location
- Chatham County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 90% of acquisition loans in Fabricated Structural Metal Manufacturing on this site.
- Average acquisition loan in Fabricated Structural Metal Manufacturing: $2,019,355.
- Average acquisition loan in North Carolina: $1,952,444.
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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