EDCO Title and Closing Services, Inc
EDCO Title and Closing Services, Inc is located in Bartlett, TN, and operates in the other activities related to real estate industry (NAICS 531390). The company was financed with an SBA 7(a) loan for a change of ownership totaling $671,000, approved on September 12, 2024 through Pinnacle Bank.
SBA 7(a) loan, change of ownership, approved Sep 12, 2024
$671,000 approvedLender: Pinnacle Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $671,000
- SBA-guaranteed amount
- $503,250 (75% of the approval)
- Lender
- Pinnacle Bank, Nashville, TN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 12, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $9,148 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 531390, Other Activities Related to Real Estate
- Project location
- Shelby County, TN
- SBA district office
- Tennessee District Office
- Congressional district
- TN-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 18% of acquisition loans in Other Activities Related to Real Estate on this site.
- Average acquisition loan in Other Activities Related to Real Estate: $1,530,355.
- Average acquisition loan in Tennessee: $1,738,925.
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 Tennessee
- NSI Land Services, LLC, Farragut