Mmp Painting
MMP Painting is a painting and wall covering contractor located in Benton Harbor, Michigan, classified under NAICS code 238320. The business was financed with an SBA 7(a) loan for a change of ownership of $990,000, approved on April 29, 2025 by Heritage Bank Inc.
SBA 7(a) loan, change of ownership, approved Apr 29, 2025
$990,000 approvedLender: Heritage Bank Inc10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $990,000
- SBA-guaranteed amount
- $742,500 (75% of the approval)
- Lender
- Heritage Bank Inc, Burlington, KY
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 29, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $13,220 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 15, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 238320, Painting and Wall Covering Contractors
- Project location
- Berrien County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 56% 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
- MMM Painting, LLC, Caledonia