Main Street Registry

The House of Wolfgang, LLC

Lakewood, NY · Furniture Retailers · NAICS 449110

The House of Wolfgang, LLC is a furniture retailer in Lakewood, NY, classified under NAICS 449110 (Furniture Retailers). The company was financed with an SBA 7(a) loan for a change of ownership, with two loans approved on January 13, 2024, totaling $1.5 million, from Manufacturers and Traders Trust Company.

SBA 7(a) loan, change of ownership, approved Jan 13, 2024

$810,000 approvedLender: Manufacturers and Traders Trust Company25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$810,000
SBA-guaranteed amount
$607,500 (75% of the approval)
Lender
Manufacturers and Traders Trust Company, Buffalo, NY
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
25 years (300 months)
Estimated maturity
January 13, 2049 (estimated, approval date plus term)
Estimated monthly payment
$7,360 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 26, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
11
Business type
Corporation
NAICS
449110, Furniture Retailers
Project location
Chautauqua County, NY
SBA district office
Buffalo District Office
Congressional district
NY-23
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 24% of acquisition loans in Furniture Retailers on this site.
  • Average acquisition loan in Furniture Retailers: $1,875,127.
  • Average acquisition loan in New York: $1,771,512.

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.

SBA 7(a) loan, change of ownership, approved Jan 13, 2024

$688,500 approvedLender: Manufacturers and Traders Trust Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$688,500
SBA-guaranteed amount
$516,375 (75% of the approval)
Lender
Manufacturers and Traders Trust Company, Buffalo, NY
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
10 years (120 months)
Estimated maturity
January 13, 2034 (estimated, approval date plus term)
Estimated monthly payment
$9,099 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 26, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
11
Business type
Corporation
NAICS
449110, Furniture Retailers
Project location
Chautauqua County, NY
SBA district office
Buffalo District Office
Congressional district
NY-23
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 15% of acquisition loans in Furniture Retailers on this site.
  • Average acquisition loan in Furniture Retailers: $1,875,127.
  • Average acquisition loan in New York: $1,771,512.

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 New York