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Outdoor Illumination of North Carolina

Holly Ridge, NC · Electrical Contractors and Other Wiring Installation Contractors · NAICS 238210

Outdoor Illumination of North Carolina, located in Holly Ridge, NC, operates in the electrical contractors and other wiring installation contractors industry. The company was financed with an SBA 7(a) loan for a change of ownership of $713,000, approved on February 17, 2025, through First Bank.

SBA 7(a) loan, change of ownership, approved Feb 17, 2025

$713,000 approvedLender: First Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$713,000
SBA-guaranteed amount
$534,750 (75% of the approval)
Lender
First Bank, Southern Pines, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.75%, variable
Term
10 years (120 months)
Estimated maturity
February 17, 2035 (estimated, approval date plus term)
Estimated monthly payment
$9,324 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 28, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
6
Business type
Corporation
NAICS
238210, Electrical Contractors and Other Wiring Installation Contractors
Project location
Onslow County, NC
SBA district office
North Carolina District Office
Congressional district
NC-03
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 12% of acquisition loans in Electrical Contractors and Other Wiring Installation Contractors on this site.
  • Average acquisition loan in Electrical Contractors and Other Wiring Installation Contractors: $1,890,316.
  • Average acquisition loan in North Carolina: $1,952,444.

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 North Carolina