RWM LLC dba Phillips Garbage Service
RWM LLC dba Phillips Garbage Service, located in Louisville, Tennessee, operates in the solid waste collection industry (NAICS 562111). The company was financed with an SBA 7(a) loan for a change of ownership of $950,000, approved on October 3, 2024 by First-Citizens Bank & Trust Company.
SBA 7(a) loan, change of ownership, approved Oct 3, 2024
$950,000 approvedLender: First-Citizens Bank & Trust Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $950,000
- SBA-guaranteed amount
- $712,500 (75% of the approval)
- Lender
- First-Citizens Bank & Trust Company, Raleigh, 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
- October 3, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,819 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 18, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 562111, Solid Waste Collection
- Project location
- Blount County, TN
- SBA district office
- Tennessee District Office
- Congressional district
- TN-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 24% of acquisition loans in Solid Waste Collection on this site.
- Average acquisition loan in Solid Waste Collection: $1,466,890.
- Average acquisition loan in Tennessee: $1,738,925.
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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