Southern Sign Company Acquisition LLC
Southern Sign Company Acquisition LLC is located in Wilmington, North Carolina, and its SBA-published industry description is Other Direct Selling Establishments (NAICS 454390). The company was financed with an SBA 7(a) loan for a change of ownership of $2.5 million from TD Bank, National Association, with an approval date of August 7, 2024.
SBA 7(a) loan, change of ownership, approved Aug 7, 2024
$2,500,000 approvedLender: TD Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,500,000
- SBA-guaranteed amount
- $1,875,000 (75% of the approval)
- Lender
- TD Bank, National Association, Wilmington, DE
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.4%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- August 7, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $29,545 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 23, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 454390, Other Direct Selling Establishments
- Project location
- New Hanover County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Other Direct Selling Establishments: $2,500,000.
- Average acquisition loan in North Carolina: $1,952,444.
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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