Jm Industrial LLC
Jm Industrial LLC is located in Millwood, WV, and the SBA lists its industry as Industrial Machinery and Equipment Merchant Wholesalers. It was approved for an SBA 7(a) loan of $1,250,000 for a change of ownership on March 30, 2024.
SBA 7(a) loan, change of ownership, approved Mar 30, 2024
- Gross approval
- $1,250,000
- SBA-guaranteed amount
- $937,500 (75% of the approval)
- Lender
- The Ohio Valley Bank Company, Gallipolis, OH
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.5%, variable
- Term
- 11 years (132 months)
- Estimated maturity
- March 30, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $16,006 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 15, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 11
- Business type
- Corporation
- NAICS
- 423830, Industrial Machinery and Equipment Merchant Wholesalers
- Project location
- Jackson County, WV
- SBA district office
- West Virginia District Office
- Congressional district
- WV-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 21% of acquisition loans in Industrial Machinery and Equipment Merchant Wholesalers on this site.
- Average acquisition loan in Industrial Machinery and Equipment Merchant Wholesalers: $2,384,497.
- Average acquisition loan in West Virginia: $2,753,191.
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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