MMM Painting, LLC
MMM Painting, LLC, located in Caledonia, Michigan, operates in the Painting and Wall Covering Contractors industry. The company was financed with an SBA 7(a) loan for a change of ownership of $663,000, approved on January 28, 2025, through Live Oak Banking Company, with a reported 13 jobs.
SBA 7(a) loan, change of ownership, approved Jan 28, 2025
$663,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $663,000
- SBA-guaranteed amount
- $497,250 (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
- 9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- January 28, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $8,399 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 13, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 13
- Business type
- Corporation
- NAICS
- 238320, Painting and Wall Covering Contractors
- Project location
- Kent County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 24% of acquisition loans in Painting and Wall Covering Contractors on this site.
- Average acquisition loan in Painting and Wall Covering Contractors: $1,429,871.
- Average acquisition loan in Michigan: $1,645,728.
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 Michigan
- Mmp Painting, Benton Harbor