Cottonwood Manor Wedding and Event Center LLC
Cottonwood Manor Wedding and Event Center LLC is a business in Perkinston, Mississippi, in the All Other Personal Services industry (NAICS 812990). The company was financed with an SBA 7(a) loan for a change of ownership, approved on May 22, 2024, in the amount of $710,000 from Merchants & Marine Bank.
SBA 7(a) loan, change of ownership, approved May 22, 2024
$710,000 approvedLender: Merchants & Marine Bank309 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $710,000
- SBA-guaranteed amount
- $532,500 (75% of the approval)
- Lender
- Merchants & Marine Bank, Pascagoula, MS
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 11.5%, variable
- Term
- 25 years, 9 months (309 months)
- Estimated maturity
- February 22, 2050 (estimated, approval date plus term)
- Estimated monthly payment
- $7,181 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 812990, All Other Personal Services
- Project location
- Harrison County, MS
- SBA district office
- Mississippi District Office
- Congressional district
- MS-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 23% of acquisition loans in All Other Personal Services on this site.
- Average acquisition loan in All Other Personal Services: $1,504,156.
- 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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