Ken's Food Distribution LLC
Ken's Food Distribution LLC is located in Houston, TX, and the SBA lists its industry as General Line Grocery Merchant Wholesalers. It was approved for an SBA 7(a) loan of $2,649,000 for a change of ownership on November 6, 2024.
SBA 7(a) loan, change of ownership, approved Nov 6, 2024
- Gross approval
- $2,649,000
- SBA-guaranteed amount
- $1,986,750 (75% of the approval)
- Lender
- Fifth Third Bank, Cincinnati, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- November 6, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $32,140 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 9, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 424410, General Line Grocery Merchant Wholesalers
- Project location
- Harris County, TX
- SBA district office
- Houston District Office
- Congressional district
- TX-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 64% of acquisition loans in General Line Grocery Merchant Wholesalers on this site.
- Average acquisition loan in General Line Grocery Merchant Wholesalers: $2,118,293.
- Average acquisition loan in Texas: $1,944,682.
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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