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Cary's Mill Woodworking Inc.

Midlothian, VA · All Other Specialty Trade Contractors · NAICS 238990

Cary's Mill Woodworking Inc. is a business in Midlothian, Virginia, classified under All Other Specialty Trade Contractors. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1.8 million, approved by First-Citizens Bank & Trust Company on January 28, 2025.

SBA 7(a) loan, change of ownership, approved Jan 28, 2025

$1,800,000 approvedLender: First-Citizens Bank & Trust Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,800,000
SBA-guaranteed amount
$1,350,000 (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
8.5%, variable
Term
10 years (120 months)
Estimated maturity
January 28, 2035 (estimated, approval date plus term)
Estimated monthly payment
$22,317 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 7, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
20
Business type
Corporation
NAICS
238990, All Other Specialty Trade Contractors
Project location
Chesterfield County, VA
SBA district office
Richmond District Office
Congressional district
VA-04
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 57% of acquisition loans in All Other Specialty Trade Contractors on this site.
  • Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
  • 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