Lux Promotions LLC
Lux Promotions LLC, located in St Thomas, VI, operates in the drinking places (alcoholic beverages) industry, NAICS code 722410. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1,058,000, approved on February 12, 2025 by Merchants Commercial Bank.
SBA 7(a) loan, change of ownership, approved Feb 12, 2025
$1,058,000 approvedLender: Merchants Commercial Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,058,000
- SBA-guaranteed amount
- $793,500 (75% of the approval)
- Lender
- Merchants Commercial Bank, Charlotte Amalie, VI
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 12, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $14,276 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 16, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 722410, Drinking Places (Alcoholic Beverages)
- Project location
- Saint Thomas County, VI
- SBA district office
- Puerto Rico and Usvi District Office
- Congressional district
- VI-00
- 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 Drinking Places (Alcoholic Beverages) on this site.
- Average acquisition loan in Drinking Places (Alcoholic Beverages): $1,078,366.
- Average acquisition loan in U.S. Virgin Islands: $1,409,667.
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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