Cascade Brokers LLC
Cascade Brokers LLC is located in Lockport, NY, and the SBA lists its industry as Collection Agencies. It was approved for an SBA 7(a) loan of $5,000,000 for a change of ownership on July 31, 2024.
SBA 7(a) loan, change of ownership, approved Jul 31, 2024
- Gross approval
- $5,000,000
- SBA-guaranteed amount
- $3,750,000 (75% of the approval)
- Lender
- Hanover Community Bank, Mineola, NY
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 31, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $67,467 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 2, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 65
- Business type
- Corporation
- NAICS
- 561440, Collection Agencies
- Project location
- Niagara County, NY
- SBA district office
- Buffalo District Office
- Congressional district
- NY-27
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Collection Agencies: $2,980,067.
- Average acquisition loan in New York: $1,771,512.
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 New York
- Capital Management Services, L.P., Buffalo
- C. Tech Collections, Inc., Mount Sinai