Move With Molly - Snellville Inc.
Move With Molly - Snellville Inc., located in Lawrenceville, GA, operates in the All Other Miscellaneous Schools and Instruction industry (NAICS 611699). The company was financed with an SBA 7(a) loan for a change of ownership of $1,085,000, approved by The Huntington National Bank on February 25, 2024. The business is a franchise of The Little Gym.
SBA 7(a) loan, change of ownership, approved Feb 25, 2024
$1,085,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,085,000
- SBA-guaranteed amount
- $813,750 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 25, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $14,640 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 7, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 13
- Business type
- Corporation
- NAICS
- 611699, All Other Miscellaneous Schools and Instruction
- Franchise
- The Little Gym
- Project location
- Gwinnett County, GA
- SBA district office
- Georgia District Office
- Congressional district
- GA-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 36% of acquisition loans in All Other Miscellaneous Schools and Instruction on this site.
- Average acquisition loan in All Other Miscellaneous Schools and Instruction: $2,006,618.
- Average acquisition loan in Georgia: $2,017,638.
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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