Norman Air
Norman Air is located in Edmond, OK, and the SBA lists its industry as Plumbing, Heating, and Air-Conditioning Contractors. It was approved for an SBA 7(a) loan of $4,250,000 for a change of ownership on January 21, 2024.
SBA 7(a) loan, change of ownership, approved Jan 21, 2024
- Gross approval
- $4,250,000
- SBA-guaranteed amount
- $3,187,500 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- January 21, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $54,994 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 21, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 11
- Business type
- Corporation
- NAICS
- 238220, Plumbing, Heating, and Air-Conditioning Contractors
- Project location
- Oklahoma County, OK
- SBA district office
- Oklahoma District Office
- Congressional district
- OK-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 94% of acquisition loans in Plumbing, Heating, and Air-Conditioning Contractors on this site.
- Average acquisition loan in Plumbing, Heating, and Air-Conditioning Contractors: $1,758,508.
- Average acquisition loan in Oklahoma: $1,861,759.
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 Oklahoma
- Comfort OpCo 1, LLC, Tulsa
- SNQ HVAC of Oklahoma LLC, Ada