More 4 Less Gold
More 4 Less Gold is located in Scott, LA, and the SBA lists its industry as Gasoline Stations with Convenience Stores. It was approved for an SBA 7(a) loan of $781,500 for a change of ownership on November 7, 2024.
SBA 7(a) loan, change of ownership, approved Nov 7, 2024
- Gross approval
- $781,500
- SBA-guaranteed amount
- $586,125 (75% of the approval)
- Lender
- Gulf Coast Bank, Abbeville, LA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 11%, variable
- Term
- 20 years (240 months)
- Estimated maturity
- November 7, 2044 (estimated, approval date plus term)
- Estimated monthly payment
- $8,067 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 9, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 457110, Gasoline Stations with Convenience Stores
- Project location
- Lafayette County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 13% of acquisition loans in Gasoline Stations with Convenience Stores on this site.
- Average acquisition loan in Gasoline Stations with Convenience Stores: $2,177,273.
- Average acquisition loan in Louisiana: $1,702,056.
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 Louisiana
- Le Marche', LLC, Maurice