Mjm Flooring, LLC
Mjm Flooring, LLC is located in Indianapolis, IN, and the SBA lists its industry as Floor Covering Retailers. It was approved for an SBA 7(a) loan of $2,400,000 for a change of ownership on February 17, 2024.
SBA 7(a) loan, change of ownership, approved Feb 17, 2024
- Gross approval
- $2,400,000
- SBA-guaranteed amount
- $1,800,000 (75% of the approval)
- Lender
- Byline Bank, Chicago, IL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 17, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $33,060 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 27, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 16
- Business type
- Corporation
- NAICS
- 449121, Floor Covering Retailers
- Project location
- Marion County, IN
- SBA district office
- Indiana District Office
- Congressional district
- IN-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 60% of acquisition loans in Floor Covering Retailers on this site.
- Average acquisition loan in Floor Covering Retailers: $2,205,596.
- Average acquisition loan in Indiana: $1,995,900.
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 Indiana
- Staggs Floor Covering, Inc., Marion
- Flooring Concepts Inc, Sellersburg