Fournell Ferrall, LLC
Fournell Ferrall, LLC is located in Norfolk, VA, and the SBA lists its industry as Furniture Merchant Wholesalers. It was approved for an SBA 504 loan ($1,155,000 SBA portion) on July 19, 2024 to finance real estate or equipment.
SBA 504 loan, approved Jul 19, 2024
- SBA (CDC) portion
- $1,155,000
- Bank portion
- $1,408,000
- Estimated project size
- $2,847,778 (estimated)
- Estimated owner equity
- $284,778 (estimated, about 10% of the project)
- Bank lender
- Southern Bank and Trust Company, Mount Olive, NC
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 20 years (240 months)
- Estimated maturity
- July 19, 2044 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 423210, Furniture Merchant Wholesalers
- Project location
- Norfolk City County, VA
- SBA district office
- Richmond District Office
- Congressional district
- VA-3
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 15% of expansion loans in Furniture Merchant Wholesalers on this site.
- Average expansion loan in Furniture Merchant Wholesalers: $2,143,550.
- Average expansion loan in Virginia: $1,938,955.
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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