Milford Granite Corp.
Milford Granite Corp. is a business in Milford, New Hampshire, in the brick, stone, and related construction material merchant wholesalers industry. The company was financed with an SBA 7(a) loan for a change of ownership of $720,000 from St. Mary's Bank, with approval dated January 29, 2025.
SBA 7(a) loan, change of ownership, approved Jan 29, 2025
$720,000 approvedLender: St. Mary's Bank10 years termPaid in fullLoan details
- Gross approval
- $720,000
- SBA-guaranteed amount
- $540,000 (75% of the approval)
- Lender
- St. Mary's Bank, Manchester, NH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.01%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- January 29, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $8,364 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 5, 2025
- Loan status
- Paid in full
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 423320, Brick, Stone, and Related Construction Material Merchant Wholesalers
- Project location
- Hillsborough County, NH
- SBA district office
- New Hampshire District Office
- Congressional district
- NH-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Brick, Stone, and Related Construction Material Merchant Wholesalers: $1,679,250.
- Average acquisition loan in New Hampshire: $1,811,437.
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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