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J Hancock Plumbing LLC

Birmingham, AL · Plumbing, Heating, and Air-Conditioning Contractors · NAICS 238220

J Hancock Plumbing LLC is a plumbing, heating, and air-conditioning contractor in Birmingham, AL, under NAICS code 238220. The company was financed with an SBA 7(a) loan for a change of ownership, totaling $1,210,000, approved on February 1, 2024 through United Midwest Savings Bank National Association.

SBA 7(a) loan, change of ownership, approved Feb 1, 2024

$1,210,000 approvedLender: United Midwest Savings Bank National Association10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,210,000
SBA-guaranteed amount
$907,500 (75% of the approval)
Lender
United Midwest Savings Bank National Association, De Graff, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11.25%, variable
Term
10 years (120 months)
Estimated maturity
February 1, 2034 (estimated, approval date plus term)
Estimated monthly payment
$16,839 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
8
Business type
Corporation
NAICS
238220, Plumbing, Heating, and Air-Conditioning Contractors
Project location
Jefferson County, AL
SBA district office
Alabama District Office
Congressional district
AL-06
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 42% of acquisition loans in Plumbing, Heating, and Air-Conditioning Contractors on this site.
  • Average acquisition loan in Plumbing, Heating, and Air-Conditioning Contractors: $1,758,508.
  • Average acquisition loan in Alabama: $1,764,717.

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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