Catalina By the Sea LLC
Catalina By the Sea LLC is a gift, novelty, and souvenir retailer located in Avalon, California. The company was financed with an SBA 7(a) loan for a change of ownership, approved on November 13, 2024, in the amount of $718,700 through U.S. Bank, National Association.
SBA 7(a) loan, change of ownership, approved Nov 13, 2024
$718,700 approvedLender: U.S. Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $718,700
- SBA-guaranteed amount
- $539,025 (75% of the approval)
- Lender
- U.S. Bank, National Association, Cincinnati, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- November 13, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,911 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 5, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 459420, Gift, Novelty, and Souvenir Retailers
- Project location
- Los Angeles County, CA
- SBA district office
- Los Angeles District Office
- Congressional district
- CA-47
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 27% of acquisition loans in Gift, Novelty, and Souvenir Retailers on this site.
- Average acquisition loan in Gift, Novelty, and Souvenir Retailers: $1,214,814.
- Average acquisition loan in California: $1,688,228.
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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