Newman Brothers Capital Corporation
Newman Brothers Capital Corporation, located in Clarksville, Tennessee, is an industry classified as Glass and Glazing Contractors. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $2,675,000, approved on June 24, 2024 by United Community Bank.
SBA 7(a) loan, change of ownership, approved Jun 24, 2024
$2,675,000 approvedLender: United Community Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,675,000
- SBA-guaranteed amount
- $2,006,250 (75% of the approval)
- Lender
- United Community Bank, Greenville, SC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- June 24, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $24,308 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 8, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 238150, Glass and Glazing Contractors
- Project location
- Montgomery County, TN
- SBA district office
- Tennessee District Office
- Congressional district
- TN-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 68% of acquisition loans in Glass and Glazing Contractors on this site.
- Average acquisition loan in Glass and Glazing Contractors: $2,029,425.
- Average acquisition loan in Tennessee: $1,738,925.
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 Tennessee
- Aag Tn, LLC, Hendersonville
- Ibis Glass Holdings, LLC, Franklin