Tarfis II MEI LLC
Tarfis II MEI LLC is a business in Grand Rapids, Michigan, classified under electrical apparatus, wiring supplies, and related equipment merchant wholesalers (NAICS 423610). The company was financed with an SBA 7(a) loan for a change of ownership of $836,300, approved by Old National Bank on March 14, 2024.
SBA 7(a) loan, change of ownership, approved Mar 14, 2024
$836,300 approvedLender: Old National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $836,300
- SBA-guaranteed amount
- $627,225 (75% of the approval)
- Lender
- Old National Bank, Evansville, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- March 14, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $10,369 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 26, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 423610, Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
- Project location
- Kent County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 20% of acquisition loans in Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers on this site.
- Average acquisition loan in Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers: $1,962,200.
- Average acquisition loan in Michigan: $1,645,728.
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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