Silver Building Products
Silver Building Products, located in Lynbrook, NY, operates in the industrial supplies merchant wholesalers industry (NAICS 423840). The business was financed with an SBA 7(a) loan for a change of ownership of $4.39 million, approved by First Internet Bank of Indiana on April 22, 2024.
SBA 7(a) loan, change of ownership, approved Apr 22, 2024
$4,390,000 approvedLender: First Internet Bank of Indiana107 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,390,000
- SBA-guaranteed amount
- $3,292,500 (75% of the approval)
- Lender
- First Internet Bank of Indiana, Fishers, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 8 years, 11 months (107 months)
- Estimated maturity
- March 22, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $65,167 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 30, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 423840, Industrial Supplies Merchant Wholesalers
- Project location
- Nassau County, NY
- SBA district office
- New York District Office
- Congressional district
- NY-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 87% of acquisition loans in Industrial Supplies Merchant Wholesalers on this site.
- Average acquisition loan in Industrial Supplies Merchant Wholesalers: $1,953,526.
- Average acquisition loan in New York: $1,771,512.
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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