Clothing Resale, LLC
Clothing Resale, LLC is a clothing and clothing accessories retailer located in Diberville, Mississippi, and is listed as a Once Upon A Child franchise. The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $680,000, approved by Southern Bancorp Bank on December 18, 2024. The loan term was 120 months and the reported job count is 35.
SBA 7(a) loan, change of ownership, approved Dec 18, 2024
$680,000 approvedLender: Southern Bancorp Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $680,000
- SBA-guaranteed amount
- $510,000 (75% of the approval)
- Lender
- Southern Bancorp Bank, Arkadelphia, AR
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 8.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 18, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,340 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 27, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 35
- Business type
- Corporation
- NAICS
- 458110, Clothing and Clothing Accessories Retailers
- Franchise
- Once Upon A Child
- Project location
- Harrison County, MS
- SBA district office
- Mississippi District Office
- Congressional district
- MS-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 31% of acquisition loans in Clothing and Clothing Accessories Retailers on this site.
- Average acquisition loan in Clothing and Clothing Accessories Retailers: $1,439,812.
- Average acquisition loan in Mississippi: $1,688,600.
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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