General Holdings, LLC
General Holdings, LLC is located in Grove, Oklahoma, and its SBA-published industry is electrical apparatus and equipment, wiring supplies, and related equipment merchant wholesaling. The business was financed with an SBA 7(a) loan for a change of ownership of $4.8 million, approved on August 2, 2024, by OakStar Bank. The loan lists 7 jobs.
SBA 7(a) loan, change of ownership, approved Aug 2, 2024
$4,800,000 approvedLender: OakStar Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,800,000
- SBA-guaranteed amount
- $3,600,000 (75% of the approval)
- Lender
- OakStar Bank, Springfield, MO
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 2, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $65,443 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 3, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 423610, Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
- Project location
- Delaware County, OK
- SBA district office
- Oklahoma District Office
- Congressional district
- OK-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 95% of acquisition loans in Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers on this site.
- Average acquisition loan in Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers: $1,962,200.
- Average acquisition loan in Oklahoma: $1,861,759.
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.
Is this your company? Claim or correct this listing. See Corrections.