Highway Equipment & Supply Co.
Highway Equipment & Supply Co. is a transportation equipment and supplies merchant wholesaler located in Harrisburg, Pennsylvania. The company was financed with an SBA 7(a) loan for a change of ownership of $4.6 million, approved on March 21, 2024, by Bank of America, National Association.
SBA 7(a) loan, change of ownership, approved Mar 21, 2024
$4,627,700 approvedLender: Bank of America, National Association10 years termPaid in fullLoan details
- Gross approval
- $4,627,700
- SBA-guaranteed amount
- $3,470,775 (75% of the approval)
- Lender
- Bank of America, National Association, Charlotte, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.33%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- March 21, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $54,522 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 28, 2024
- Loan status
- Paid in full
- Jobs supported
- 1
- Business type
- Corporation
- NAICS
- 423860, Transportation Equipment and Supplies (except Motor Vehicle) Merchant Wholesalers
- Project location
- Dauphin County, PA
- SBA district office
- Philadelphia District Office
- Congressional district
- PA-10
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Transportation Equipment and Supplies (except Motor Vehicle) Merchant Wholesalers: $3,081,350.
- Average acquisition loan in Pennsylvania: $1,636,965.
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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