Plato's Closet
Plato's Closet, located in West Melbourne, Florida, is listed under the clothing and clothing accessories retailers industry (NAICS 458110). The company financed real estate or equipment through an SBA 504 loan with an SBA portion of $1,679,000, approved on January 6, 2025, through Impact 504 Fund, LLC and Florida First Capital Finance Corporation, Inc., and the loan reports 63 jobs and the business age as existing or more than 2 years old.
SBA 504 loan, approved Jan 6, 2025
$1,679,000 SBA portionCDC: Florida First Capital Finance Corporation, Inc.25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,679,000
- Bank portion
- $2,050,000
- Estimated project size
- $4,143,333 (estimated)
- Estimated owner equity
- $414,333 (estimated, about 10% of the project)
- Bank lender
- Impact 504 Fund, LLC, Arlington, VA
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- January 6, 2050 (estimated, approval date plus term)
- First disbursement
- Jul 16, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 63
- Business type
- Corporation
- NAICS
- 458110, Clothing and Clothing Accessories Retailers
- Franchise
- Plato's Closet
- Project location
- Brevard County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-8
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 43% of expansion loans in Clothing and Clothing Accessories Retailers on this site.
- Average expansion loan in Clothing and Clothing Accessories Retailers: $1,913,179.
- Average expansion loan in Florida: $2,058,496.
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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