Msa Music Inc & Tori Okwabi
Msa Music Inc & Tori Okwabi is a musical instrument and supplies retailer in Minneapolis, Minnesota, classified under NAICS 459140. The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $580,000, with Sunrise Banks National Association as the lender and approval dated May 14, 2024.
SBA 7(a) loan, change of ownership, approved May 14, 2024
$580,000 approvedLender: Sunrise Banks National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $580,000
- SBA-guaranteed amount
- $435,000 (75% of the approval)
- Lender
- Sunrise Banks National Association, Saint Paul, MN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 14, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,072 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 26, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 459140, Musical Instrument and Supplies Retailers
- Project location
- Hennepin County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Musical Instrument and Supplies Retailers: $1,886,956.
- Average acquisition loan in Minnesota: $1,482,119.
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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