Forever West Designs LLC
Forever West Designs LLC is a business in Jackson, Wyoming, in the jewelry, watch, precious stone, and precious metal merchant wholesalers industry (NAICS 423940). The company was financed with an SBA 7(a) loan for a change of ownership of $928,000 from Community Banks of Colorado, A Division of NBH Bank, with approval dated July 30, 2024, and the loan supported 10 jobs.
SBA 7(a) loan, change of ownership, approved Jul 30, 2024
$928,000 approvedLender: Community Banks of Colorado, A Division of NBH Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $928,000
- SBA-guaranteed amount
- $696,000 (75% of the approval)
- Lender
- Community Banks of Colorado, A Division of NBH Bank, Greenwood Village, CO
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 30, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,135 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 5, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 423940, Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers
- Project location
- Teton County, WY
- SBA district office
- Wyoming District Office
- Congressional district
- WY-00
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers: $3,055,017.
- Average acquisition loan in Wyoming: $1,759,358.
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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