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Locke and Leigh LLC

Jacksonville, FL · Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance · NAICS 811310

Locke and Leigh LLC, located in Jacksonville, Florida, operates in commercial and industrial machinery and equipment repair and maintenance, excluding automotive and electronic equipment. The company was financed with an SBA 7(a) loan for a change of ownership of $1.7 million, approved on September 16, 2024, by Live Oak Banking Company, with a 120-month term and 11 reported jobs.

SBA 7(a) loan, change of ownership, approved Sep 16, 2024

$1,700,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,700,000
SBA-guaranteed amount
$1,275,000 (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
10.45%, variable
Term
10 years (120 months)
Estimated maturity
September 16, 2034 (estimated, approval date plus term)
Estimated monthly payment
$22,891 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 4, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
11
Business type
Corporation
NAICS
811310, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
Project location
Duval County, FL
SBA district office
North Florida District Office
Congressional district
FL-04
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 64% of acquisition loans in Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance on this site.
  • Average acquisition loan in Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance: $1,576,060.
  • 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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