Rushing Propagation Nursery Inc
Rushing Propagation Nursery Inc is a business in Semmes, Alabama, operating in the flower, nursery stock, and florists' supplies merchant wholesalers industry. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,585,000, approved on May 29, 2025 through Hancock Whitney Bank.
SBA 7(a) loan, change of ownership, approved May 29, 2025
$1,585,000 approvedLender: Hancock Whitney Bank16 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,585,000
- SBA-guaranteed amount
- $1,188,750 (75% of the approval)
- Lender
- Hancock Whitney Bank, Gulfport, MS
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 16 years (192 months)
- Estimated maturity
- May 29, 2041 (estimated, approval date plus term)
- Estimated monthly payment
- $16,578 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 21, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 13
- Business type
- Corporation
- NAICS
- 424930, Flower, Nursery Stock, and Florists' Supplies Merchant Wholesalers
- Project location
- Mobile County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Flower, Nursery Stock, and Florists' Supplies Merchant Wholesalers: $2,120,986.
- Average acquisition loan in Alabama: $1,764,717.
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 Alabama
- Davis Wholesale Florist Birmingham, LLC, Birmingham