Patterson Unlimited Inc.
Patterson Unlimited Inc. is located in Bradenton, FL, and the SBA lists its industry as Outdoor Power Equipment Stores. It was approved for an SBA 7(a) loan of $2,124,000 for a change of ownership on August 26, 2024.
SBA 7(a) loan, change of ownership, approved Aug 26, 2024
- Gross approval
- $2,124,000
- SBA-guaranteed amount
- $1,593,000 (75% of the approval)
- Lender
- Banesco USA, Miami, FL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 26, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $29,559 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 4, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 18
- Business type
- Corporation
- NAICS
- 444210, Outdoor Power Equipment Stores
- Project location
- Manatee County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-16
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Outdoor Power Equipment Stores: $2,124,000.
- Average acquisition loan in Florida: $1,808,559.
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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