Schmitz Woodworks, Inc.
Schmitz Woodworks, Inc. is a business in Watsonville, California, in the all other miscellaneous wood product manufacturing industry (NAICS 321999). The company financed real estate or equipment through an SBA 504 loan of $1,490,000 approved on August 27, 2024, with Bank of America N.A. as the lender and The Mortgage Capital Development Corporation as the certified development company.
SBA 504 loan, approved Aug 27, 2024
$1,490,000 SBA portionCDC: The Mortgage Capital Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,490,000
- Bank portion
- $1,817,500
- Estimated project size
- $3,675,000 (estimated)
- Estimated owner equity
- $367,500 (estimated, about 10% of the project)
- Bank lender
- Bank of America N.a., Charlotte, NC
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- August 27, 2049 (estimated, approval date plus term)
- First disbursement
- Apr 16, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 321999, All Other Miscellaneous Wood Product Manufacturing
- Project location
- Santa Cruz County, CA
- SBA district office
- San Francisco District Office
- Congressional district
- CA-18
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 67% of expansion loans in All Other Miscellaneous Wood Product Manufacturing on this site.
- Average expansion loan in All Other Miscellaneous Wood Product Manufacturing: $1,630,917.
- Average expansion loan in California: $2,161,468.
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 California
- Rownix Properties LLC, Auburn