Southern Finishing Supply, Inc.
Southern Finishing Supply, Inc. of Smyrna, Georgia operates in paint, varnish, and supplies merchant wholesaling, under NAICS code 424950. The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $679,000, approved on March 26, 2025, through SouthState Bank, National Association.
SBA 7(a) loan, change of ownership, approved Mar 26, 2025
$679,000 approvedLender: SouthState Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $679,000
- SBA-guaranteed amount
- $509,250 (75% of the approval)
- Lender
- SouthState Bank, National Association, Winter Haven, FL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 26, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $9,162 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 6, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 424950, Paint, Varnish, and Supplies Merchant Wholesalers
- Project location
- Cobb County, GA
- SBA district office
- Georgia District Office
- Congressional district
- GA-11
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Paint, Varnish, and Supplies Merchant Wholesalers: $1,099,750.
- Average acquisition loan in Georgia: $2,017,638.
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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