Sports Vape
Sports Vape is a business in Fargo, North Dakota, in the tobacco product and electronic cigarette merchant wholesaler industry. It was financed with an SBA 7(a) loan for a change of ownership of $2.9 million, approved by First Internet Bank of Indiana on July 2, 2025.
SBA 7(a) loan, change of ownership, approved Jul 2, 2025
$2,898,000 approvedLender: First Internet Bank of Indiana10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,898,000
- SBA-guaranteed amount
- $2,173,500 (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
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 2, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $38,700 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 8, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 17
- Business type
- Corporation
- NAICS
- 424940, Tobacco Product and Electronic Cigarette Merchant Wholesalers
- Project location
- Cass County, ND
- SBA district office
- North Dakota District Office
- Congressional district
- ND-00
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Tobacco Product and Electronic Cigarette Merchant Wholesalers: $3,149,000.
- Average acquisition loan in North Dakota: $1,899,142.
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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