Main Street Registry

Etowah Fireplace and Patio, Inc

Etowah, NC · Home Centers · NAICS 444110

Etowah Fireplace and Patio, Inc is a home centers business in Etowah, NC, classified under NAICS 444110. The company was financed with an SBA 7(a) loan for a change of ownership, with $1,306,500 approved through First-Citizens Bank & Trust Company on January 6, 2024. The loan lists 6 jobs and is not a franchise.

SBA 7(a) loan, change of ownership, approved Jan 6, 2024

$1,306,500 approvedLender: First-Citizens Bank & Trust Company200 months termStatus not reported (SBA exemption)Loan details
Gross approval
$1,306,500
SBA-guaranteed amount
$979,875 (75% of the approval)
Lender
First-Citizens Bank & Trust Company, Raleigh, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.35%, fixed
Term
16 years, 8 months (200 months)
Estimated maturity
September 6, 2040 (estimated, approval date plus term)
Estimated monthly payment
$11,349 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 23, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
6
Business type
Corporation
NAICS
444110, Home Centers
Project location
Henderson County, NC
SBA district office
North Carolina District Office
Congressional district
NC-11
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Average acquisition loan in Home Centers: $1,524,271.
  • Average acquisition loan in North Carolina: $1,952,444.

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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