Innovative Iron LLC
Innovative Iron LLC is located in Salt Lake City, UT, and the SBA lists its industry as Other Foundation, Structure, and Building Exterior Contractors. It was approved for an SBA 7(a) loan of $4,000,000 for a change of ownership on June 25, 2025.
SBA 7(a) loan, change of ownership, approved Jun 25, 2025
- Gross approval
- $4,000,000
- SBA-guaranteed amount
- $3,000,000 (75% of the approval)
- Lender
- Byline Bank, Chicago, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- June 25, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $51,759 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 18, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 238190, Other Foundation, Structure, and Building Exterior Contractors
- Project location
- Salt Lake County, UT
- SBA district office
- Utah District Office
- Congressional district
- UT-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 87% of acquisition loans in Other Foundation, Structure, and Building Exterior Contractors on this site.
- Average acquisition loan in Other Foundation, Structure, and Building Exterior Contractors: $1,808,077.
- Average acquisition loan in Utah: $1,761,092.
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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