Equipment Rentals & Service LLC
Equipment Rentals & Service LLC is a business in Crowley, Louisiana, in the office machinery and equipment rental and leasing industry. It was financed with an SBA 7(a) loan for a change of ownership of $910,000, approved on February 17, 2025 by Hancock Whitney Bank.
SBA 7(a) loan, change of ownership, approved Feb 17, 2025
$910,000 approvedLender: Hancock Whitney Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $910,000
- SBA-guaranteed amount
- $682,500 (75% of the approval)
- Lender
- Hancock Whitney Bank, Gulfport, MS
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 17, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $12,026 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 24, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 532420, Office Machinery and Equipment Rental and Leasing
- Project location
- Acadia County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Office Machinery and Equipment Rental and Leasing: $1,896,000.
- Average acquisition loan in Louisiana: $1,702,056.
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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