Carpet Solutions of Texas, Limited liability company
Carpet Solutions of Texas, Limited liability company, located in Lubbock, TX, operates in the carpet and upholstery cleaning services industry (NAICS 561740). The business was financed with an SBA 7(a) loan for a change of ownership of $727,000, approved on January 3, 2024 by Heritage Bank Inc, with 8 jobs reported.
SBA 7(a) loan, change of ownership, approved Jan 3, 2024
$727,000 approvedLender: Heritage Bank Inc10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $727,000
- SBA-guaranteed amount
- $545,250 (75% of the approval)
- Lender
- Heritage Bank Inc, Burlington, KY
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- January 3, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $10,118 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 561740, Carpet and Upholstery Cleaning Services
- Project location
- Lubbock County, TX
- SBA district office
- Lubbock District Office
- Congressional district
- TX-19
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 20% of acquisition loans in Carpet and Upholstery Cleaning Services on this site.
- Average acquisition loan in Carpet and Upholstery Cleaning Services: $1,284,287.
- Average acquisition loan in Texas: $1,944,682.
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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