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L.D. Swain & Son Inc

Durham, NC · Plumbing, Heating, and Air-Conditioning Contractors · NAICS 238220

L.D. Swain & Son Inc is a plumbing, heating, and air-conditioning contracting business located in Durham, NC. The company was financed with an SBA 7(a) loan for a change of ownership totaling $2,261,500, approved on August 26, 2024 through lender TowneBank.

SBA 7(a) loan, change of ownership, approved Aug 26, 2024

$2,261,500 approvedLender: TowneBank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,261,500
SBA-guaranteed amount
$1,696,125 (75% of the approval)
Lender
TowneBank, Portsmouth, VA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.75%, variable
Term
10 years (120 months)
Estimated maturity
August 26, 2034 (estimated, approval date plus term)
Estimated monthly payment
$30,833 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Sep 9, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
20
Business type
Individual
NAICS
238220, Plumbing, Heating, and Air-Conditioning Contractors
Project location
Durham County, NC
SBA district office
North Carolina District Office
Congressional district
NC-04
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 74% of acquisition loans in Plumbing, Heating, and Air-Conditioning Contractors on this site.
  • Average acquisition loan in Plumbing, Heating, and Air-Conditioning Contractors: $1,758,508.
  • Average acquisition loan in North Carolina: $1,952,444.

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 North Carolina