Etowah Fireplace and Patio, Inc
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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