Cherokee Land Corporation
Cherokee Land Corporation is located in Lakeside, AZ, and the SBA lists its industry as Furniture Retailers. It was approved for an SBA 7(a) loan of $2,810,300 for a change of ownership on January 10, 2024.
SBA 7(a) loan, change of ownership, approved Jan 10, 2024
- Gross approval
- $2,810,300
- SBA-guaranteed amount
- $2,107,725 (75% of the approval)
- Lender
- Zions Bancorporation, National Association, Salt Lake City, UT
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- January 10, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $26,534 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 17, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 20
- Business type
- Corporation
- NAICS
- 449110, Furniture Retailers
- Project location
- Navajo County, AZ
- SBA district office
- Arizona District Office
- Congressional district
- AZ-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 73% of acquisition loans in Furniture Retailers on this site.
- Average acquisition loan in Furniture Retailers: $1,875,127.
- Average acquisition loan in Arizona: $1,690,811.
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 Arizona
- Vertex Custom Cabinetry, LLC, Tempe
- PB Ware, LLC, Mesa
- Furniture & Mattress Discounters, LLC, Glendale
- Furniture Land LLC, Yuma