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Jet-Black International, Inc

Savage, MN · All Other Specialty Trade Contractors · NAICS 238990

Jet-Black International, Inc, located in Savage, MN, is classified under the industry All Other Specialty Trade Contractors (NAICS 238990). The company was financed with an SBA 7(a) loan for a change of ownership, with two loans approved on May 18, 2024, totaling $3,117,300 from Old National Bank, and the loans report 2 jobs.

SBA 7(a) loan, change of ownership, approved May 18, 2024

$2,617,300 approvedLender: Old National Bank174 months termStatus not reported (SBA exemption)Loan details
Gross approval
$2,617,300
SBA-guaranteed amount
$1,962,975 (75% of the approval)
Lender
Old National Bank, Evansville, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.05%, fixed
Term
14 years, 6 months (174 months)
Estimated maturity
November 18, 2038 (estimated, approval date plus term)
Estimated monthly payment
$25,536 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 7, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
238990, All Other Specialty Trade Contractors
Project location
Scott County, MN
SBA district office
Minnesota District Office
Congressional district
MN-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 75% of acquisition loans in All Other Specialty Trade Contractors on this site.
  • Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
  • Average acquisition loan in Minnesota: $1,482,119.

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 May 18, 2024

$500,000 approvedLender: Old National Bank119 months termStatus not reported (SBA exemption)Loan details
Gross approval
$500,000
SBA-guaranteed amount
$250,000 (50% of the approval)
Lender
Old National Bank, Evansville, IN
Processing method
SBA Express: streamlined process using the lender's own procedures, with a smaller SBA guarantee
Initial interest rate
9.5%, fixed
Term
9 years, 11 months (119 months)
Estimated maturity
April 18, 2034 (estimated, approval date plus term)
Estimated monthly payment
$6,503 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 7, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
238990, All Other Specialty Trade Contractors
Project location
Scott County, MN
SBA district office
Minnesota District Office
Congressional district
MN-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
Yes
  • Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
  • Average acquisition loan in Minnesota: $1,482,119.

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 Minnesota