Blanton and Lester LLC
Blanton and Lester LLC is located in Front Royal, VA, and the SBA lists its industry as Pharmacies and Drug Retailers. It was approved for an SBA 7(a) loan of $1,518,000 for a change of ownership on September 27, 2024.
SBA 7(a) loan, change of ownership, approved Sep 27, 2024
- Gross approval
- $1,518,000
- SBA-guaranteed amount
- $1,138,500 (75% of the approval)
- Lender
- Byline Bank, Chicago, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 27, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $21,126 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 2, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 29
- Business type
- Corporation
- NAICS
- 456110, Pharmacies and Drug Retailers
- Project location
- Warren County, VA
- SBA district office
- Richmond District Office
- Congressional district
- VA-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 56% of acquisition loans in Pharmacies and Drug Retailers on this site.
- Average acquisition loan in Pharmacies and Drug Retailers: $1,715,134.
- 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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Same industry in Virginia
- Elkton Family Pharmacy, Elkton
- Buford Road Pharmacy, Inc., North Chesterfield