Porch Conversion of the Carolinas, LLC
Porch Conversion of the Carolinas, LLC, located in Salisbury, NC, operates in the other foundation, structure, and building exterior contractors industry (NAICS 238190). The business was financed with an SBA 7(a) loan for a change of ownership of $617,000, approved December 15, 2023, through Pathward National Association.
SBA 7(a) loan, change of ownership, approved Dec 15, 2023
$617,000 approvedLender: Pathward National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $617,000
- SBA-guaranteed amount
- $462,750 (75% of the approval)
- Lender
- Pathward National Association, Sioux Falls, SD
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 15, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $8,412 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 238190, Other Foundation, Structure, and Building Exterior Contractors
- Project location
- Rowan County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-13
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 3% of acquisition loans in Other Foundation, Structure, and Building Exterior Contractors on this site.
- Average acquisition loan in Other Foundation, Structure, and Building Exterior Contractors: $1,808,077.
- 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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