SMR Reeves, LLC
SMR Reeves, LLC is located in Plano, TX, and the SBA lists its industry as Other Commercial Equipment Merchant Wholesalers. It was approved for an SBA 7(a) loan of $613,900 for a change of ownership on April 19, 2024.
SBA 7(a) loan, change of ownership, approved Apr 19, 2024
- Gross approval
- $613,900
- SBA-guaranteed amount
- $460,425 (75% of the approval)
- Lender
- GBank, Las Vegas, NV
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 19, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,631 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 423440, Other Commercial Equipment Merchant Wholesalers
- Project location
- Collin County, TX
- SBA district office
- Dallas / Ft Worth District Office
- Congressional district
- TX-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 27% of acquisition loans in Other Commercial Equipment Merchant Wholesalers on this site.
- Average acquisition loan in Other Commercial Equipment Merchant Wholesalers: $1,485,627.
- Average acquisition loan in Texas: $1,944,682.
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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