ESCO Gifts and Awards Inc
ESCO Gifts and Awards Inc is a jewelry and silverware manufacturing business in Milwaukee, Wisconsin, listed under NAICS code 339910. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $500,000, approved on October 4, 2024 by First Internet Bank of Indiana.
SBA 7(a) loan, change of ownership, approved Oct 4, 2024
$500,000 approvedLender: First Internet Bank of Indiana10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $500,000
- SBA-guaranteed amount
- $250,000 (50% of the approval)
- Lender
- First Internet Bank of Indiana, Fishers, IN
- Processing method
- SBA Express: streamlined process using the lender's own procedures, with a smaller SBA guarantee
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- October 4, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $6,817 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 13, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 21
- Business type
- Corporation
- NAICS
- 339910, Jewelry and Silverware Manufacturing
- Project location
- Milwaukee County, WI
- SBA district office
- Wisconsin District Office
- Congressional district
- WI-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- Yes
- Average acquisition loan in Jewelry and Silverware Manufacturing: $500,000.
- Average acquisition loan in Wisconsin: $1,729,230.
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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