JP & AP Enterprises Inc.
JP & AP Enterprises Inc. is located in Sarasota, FL, and the SBA lists its industry as Other Building Material Dealers. It was approved for an SBA 7(a) loan of $1,795,000 for a change of ownership on April 23, 2024.
SBA 7(a) loan, change of ownership, approved Apr 23, 2024
- Gross approval
- $1,795,000
- SBA-guaranteed amount
- $1,346,250 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, 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
- April 23, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $24,981 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 9, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 444180, Other Building Material Dealers
- Project location
- Sarasota County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-16
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 62% of acquisition loans in Other Building Material Dealers on this site.
- Average acquisition loan in Other Building Material Dealers: $1,898,107.
- Average acquisition loan in Florida: $1,808,559.
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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