Main Street Registry

Knollwood Kicks, Inc.

Minneapolis, MN · Shoe Retailers · NAICS 458210

Knollwood Kicks, Inc. is a shoe retailer located in Minneapolis, Minnesota. The business was financed with an SBA 7(a) loan for a change of ownership of $1.7 million, approved on December 6, 2023, by Farmers and Merchants Savings Bank.

SBA 7(a) loan, change of ownership, approved Dec 6, 2023

$1,744,600 approvedLender: Farmers and Merchants Savings Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,744,600
SBA-guaranteed amount
$1,308,450 (75% of the approval)
Lender
Farmers and Merchants Savings Bank, Manchester, IA
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
9.5%, fixed
Term
10 years (120 months)
Estimated maturity
December 6, 2033 (estimated, approval date plus term)
Estimated monthly payment
$22,575 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
458210, Shoe Retailers
Project location
Hennepin County, MN
SBA district office
Minnesota District Office
Congressional district
MN-03
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 86% of acquisition loans in Shoe Retailers on this site.
  • Average acquisition loan in Shoe Retailers: $1,132,514.
  • 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