Easy Passport Services Inc
Easy Passport Services Inc is located in Trenton, NJ, and the SBA lists its industry as All Other Personal Services. It was approved for an SBA 7(a) loan of $3,238,000 for a change of ownership on August 26, 2024.
SBA 7(a) loan, change of ownership, approved Aug 26, 2024
- Gross approval
- $3,238,000
- SBA-guaranteed amount
- $2,428,500 (75% of the approval)
- Lender
- Meridian Bank, Malvern, PA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 26, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $43,692 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 4, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 1
- Business type
- Corporation
- NAICS
- 812990, All Other Personal Services
- Project location
- Mercer County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 92% 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 New Jersey: $1,626,307.
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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