Family Firearms
Family Firearms is a sporting goods retailer in Enterprise, Alabama, in the sporting goods retailers industry (NAICS 459110). The business was financed with an SBA 7(a) loan for a change of ownership of $2,557,000, approved on December 23, 2023 by Troy Bank & Trust Company.
SBA 7(a) loan, change of ownership, approved Dec 23, 2023
$2,557,000 approvedLender: Troy Bank & Trust Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,557,000
- SBA-guaranteed amount
- $1,917,750 (75% of the approval)
- Lender
- Troy Bank & Trust Company, Troy, AL
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 9.9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 23, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $33,650 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 459110, Sporting Goods Retailers
- Project location
- Dale County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 88% of acquisition loans in Sporting Goods Retailers on this site.
- Average acquisition loan in Sporting Goods Retailers: $1,337,498.
- Average acquisition loan in Alabama: $1,764,717.
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 Alabama
- Coster Outfitters, LLC, Orange Beach