Reagal Services, LLC
Reagal Services, LLC is located in Raleigh, NC, and the SBA lists its industry as Painting and Wall Covering Contractors. It was approved for an SBA 7(a) loan of $620,000 for a change of ownership on March 23, 2024.
SBA 7(a) loan, change of ownership, approved Mar 23, 2024
- Gross approval
- $620,000
- SBA-guaranteed amount
- $465,000 (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
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 23, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,366 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 238320, Painting and Wall Covering Contractors
- Project location
- Wake County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 18% of acquisition loans in Painting and Wall Covering Contractors on this site.
- Average acquisition loan in Painting and Wall Covering Contractors: $1,429,871.
- 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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