Grays 50 Shades, LLC
Grays 50 Shades, LLC, located in Norwalk, Iowa, operates in the drinking places (alcoholic beverages) industry. The company was financed with an SBA 7(a) loan for a change of ownership totaling $2.0 million, approved on October 30, 2024, through Farmers State Bank.
SBA 7(a) loan, change of ownership, approved Oct 30, 2024
$2,000,000 approvedLender: Farmers State Bank93 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,000,000
- SBA-guaranteed amount
- $1,500,000 (75% of the approval)
- Lender
- Farmers State Bank, Waterloo, IA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 8.05%, fixed
- Term
- 7 years, 9 months (93 months)
- Estimated maturity
- July 30, 2032 (estimated, approval date plus term)
- Estimated monthly payment
- $28,977 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 19
- Business type
- Corporation
- NAICS
- 722410, Drinking Places (Alcoholic Beverages)
- Project location
- Warren County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 91% of acquisition loans in Drinking Places (Alcoholic Beverages) on this site.
- Average acquisition loan in Drinking Places (Alcoholic Beverages): $1,078,366.
- Average acquisition loan in Iowa: $1,701,244.
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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