Molino Elevator and Fabrication Inc
Molino Elevator and Fabrication Inc, located in Avon, Massachusetts, is an elevator and moving stairway manufacturer (NAICS 333921). The business was financed with an SBA 7(a) loan for a change of ownership of $1,312,000, approved on August 29, 2024, through Rockland Trust Company.
SBA 7(a) loan, change of ownership, approved Aug 29, 2024
$1,312,000 approvedLender: Rockland Trust Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,312,000
- SBA-guaranteed amount
- $984,000 (75% of the approval)
- Lender
- Rockland Trust Company, Rockland, MA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 6.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 29, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $15,065 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 24, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 11
- Business type
- Corporation
- NAICS
- 333921, Elevator and Moving Stairway Manufacturing
- Project location
- Norfolk County, MA
- SBA district office
- Massachusetts District Office
- Congressional district
- MA-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Elevator and Moving Stairway Manufacturing: $1,312,000.
- Average acquisition loan in Massachusetts: $1,643,977.
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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