Clevenger Holdings, LLC
Clevenger Holdings, LLC is located in Rainbow City, Alabama, and operates in institutional furniture manufacturing (NAICS 337127). The company was financed with an SBA 7(a) loan for a change of ownership of $1.2 million, approved on June 12, 2024, through River Bank and Trust.
SBA 7(a) loan, change of ownership, approved Jun 12, 2024
$1,200,000 approvedLender: River Bank and Trust17 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,200,000
- SBA-guaranteed amount
- $900,000 (75% of the approval)
- Lender
- River Bank and Trust, Prattville, AL
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.25%, variable
- Term
- 17 years (204 months)
- Estimated maturity
- June 12, 2041 (estimated, approval date plus term)
- Estimated monthly payment
- $12,445 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 10, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 26
- Business type
- Corporation
- NAICS
- 337127, Institutional Furniture Manufacturing
- Project location
- Etowah County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Institutional Furniture Manufacturing: $2,430,000.
- 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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