Chan L Cung LLC
Chan L Cung LLC is located in Alexander City, AL, and the SBA lists its industry as Broilers and Other Meat Type Chicken Production. It was approved for an SBA 7(a) loan of $1,698,900 for a change of ownership on August 6, 2024.
SBA 7(a) loan, change of ownership, approved Aug 6, 2024
- Gross approval
- $1,698,900
- SBA-guaranteed amount
- $1,274,175 (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
- 9%, variable
- Term
- 17 years (204 months)
- Estimated maturity
- August 6, 2041 (estimated, approval date plus term)
- Estimated monthly payment
- $16,289 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 20, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 112320, Broilers and Other Meat Type Chicken Production
- Project location
- Tallapoosa County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 60% of acquisition loans in Broilers and Other Meat Type Chicken Production on this site.
- Average acquisition loan in Broilers and Other Meat Type Chicken Production: $1,906,719.
- Average acquisition loan in Alabama: $1,764,717.
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 Alabama
- New Hope Farm LLC, Columbia
- Sang Bik, Goshen
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- Aurelia Plume Poultry Farm, Roanoke