SSI Acq Co
SSI Acq Co is a business in Grove City, Ohio, in the commercial and industrial machinery and equipment repair and maintenance industry (except automotive and electronic). The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $720,000, from TowneBank, with approval dated May 14, 2025.
SBA 7(a) loan, change of ownership, approved May 14, 2025
$720,000 approvedLender: TowneBank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $720,000
- SBA-guaranteed amount
- $540,000 (75% of the approval)
- Lender
- TowneBank, Portsmouth, VA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 14, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $9,317 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 9, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 811310, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
- Project location
- Franklin County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 14% of acquisition loans in Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance on this site.
- Average acquisition loan in Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance: $1,576,060.
- Average acquisition loan in Ohio: $1,840,340.
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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