Bolden, Newby & Sons Incorporated
Bolden, Newby & Sons Incorporated is a business located in Sumter, SC, in the Administrative Management and General Management Consulting Services industry. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $3.8 million, approved by Live Oak Banking Company on September 27, 2024.
SBA 7(a) loan, change of ownership, approved Sep 27, 2024
$3,800,000 approvedLender: Live Oak Banking Company13 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,800,000
- SBA-guaranteed amount
- $2,850,000 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.3%, variable
- Term
- 13 years (156 months)
- Estimated maturity
- September 27, 2037 (estimated, approval date plus term)
- Estimated monthly payment
- $44,293 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 18, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 34
- Business type
- Corporation
- NAICS
- 541611, Administrative Management and General Management Consulting Services
- Project location
- Sumter County, SC
- SBA district office
- South Carolina District Office
- Congressional district
- SC-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 87% of acquisition loans in Administrative Management and General Management Consulting Services on this site.
- Average acquisition loan in Administrative Management and General Management Consulting Services: $2,320,768.
- Average acquisition loan in South Carolina: $1,827,509.
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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