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General Industrial Tool and Supply Acquisition, LLC

Burbank, CA · Industrial Supplies Merchant Wholesalers · NAICS 423840

General Industrial Tool and Supply Acquisition, LLC is located in Burbank, CA, and operates in the industrial supplies merchant wholesalers industry (NAICS 423840). The company was financed with an SBA 7(a) loan for a change of ownership of $2.57 million, approved on July 11, 2024 by Gulf Coast Bank and Trust Company, and the loan is reported with 23 jobs.

SBA 7(a) loan, change of ownership, approved Jul 11, 2024

$2,570,000 approvedLender: Gulf Coast Bank and Trust Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,570,000
SBA-guaranteed amount
$1,927,500 (75% of the approval)
Lender
Gulf Coast Bank and Trust Company, New Orleans, LA
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
10.75%, variable
Term
10 years (120 months)
Estimated maturity
July 11, 2034 (estimated, approval date plus term)
Estimated monthly payment
$35,039 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Aug 20, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
23
Business type
Corporation
NAICS
423840, Industrial Supplies Merchant Wholesalers
Project location
Los Angeles County, CA
SBA district office
Los Angeles District Office
Congressional district
CA-28
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 74% of acquisition loans in Industrial Supplies Merchant Wholesalers on this site.
  • Average acquisition loan in Industrial Supplies Merchant Wholesalers: $1,953,526.
  • Average acquisition loan in California: $1,688,228.

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 California