Main Street Registry

Leather Gallery of Boca Raton, Inc.

Coral Springs, FL · Furniture Retailers · NAICS 449110

Leather Gallery of Boca Raton, Inc. is a furniture retailer located in Coral Springs, Florida, in the furniture retailers industry. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $715,000, approved by Live Oak Banking Company on October 25, 2023.

SBA 7(a) loan, change of ownership, approved Oct 25, 2023

$715,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$715,000
SBA-guaranteed amount
$536,250 (75% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
10 years (120 months)
Estimated maturity
October 25, 2033 (estimated, approval date plus term)
Estimated monthly payment
$9,648 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 2, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
10
Business type
Corporation
NAICS
449110, Furniture Retailers
Project location
Broward County, FL
SBA district office
South Florida District Office
Congressional district
FL-22
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 18% of acquisition loans in Furniture Retailers on this site.
  • Average acquisition loan in Furniture Retailers: $1,875,127.
  • 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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Same industry in Florida