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Rick Carney Irrigation, Inc.

Fredericksburg, VA · All Other Specialty Trade Contractors · NAICS 238990

Rick Carney Irrigation, Inc. is an All Other Specialty Trade Contractor (NAICS 238990) located in Fredericksburg, Virginia. The company was financed with an SBA 7(a) loan for a change of ownership of $1.076 million, approved on April 24, 2024 by The Huntington National Bank.

SBA 7(a) loan, change of ownership, approved Apr 24, 2024

$1,076,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,076,000
SBA-guaranteed amount
$807,000 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
10 years (120 months)
Estimated maturity
April 24, 2034 (estimated, approval date plus term)
Estimated monthly payment
$14,219 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 29, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
16
Business type
Corporation
NAICS
238990, All Other Specialty Trade Contractors
Project location
Stafford County, VA
SBA district office
Richmond District Office
Congressional district
VA-01
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 36% of acquisition loans in All Other Specialty Trade Contractors on this site.
  • Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
  • Average acquisition loan in Virginia: $1,860,760.

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 Virginia