S&A Wiese Supply LLC
S&A Wiese Supply LLC is a household appliance, electric housewares, and consumer electronics wholesaler located in Shakopee, Minnesota. The company was financed with an SBA 7(a) loan for a change of ownership, approved on November 6, 2024, in the amount of $2,352,000 through Platinum Bank.
SBA 7(a) loan, change of ownership, approved Nov 6, 2024
$2,352,000 approvedLender: Platinum Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,352,000
- SBA-guaranteed amount
- $1,764,000 (75% of the approval)
- Lender
- Platinum Bank, Oakdale, MN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- November 6, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $28,536 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
- 5
- Business type
- Corporation
- NAICS
- 423620, Household Appliances, Electric Housewares, and Consumer Electronics Merchant Wholesalers
- Project location
- Scott County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Household Appliances, Electric Housewares, and Consumer Electronics Merchant Wholesalers: $2,851,000.
- Average acquisition loan in Minnesota: $1,482,119.
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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