Torino Acquisition LLC
Torino Acquisition LLC is located in Harahan, LA, and the SBA lists its industry as Leather and Hide Tanning and Finishing. It was approved for an SBA 7(a) loan of $2,700,000 for a change of ownership on July 19, 2024.
SBA 7(a) loan, change of ownership, approved Jul 19, 2024
- Gross approval
- $2,700,000
- SBA-guaranteed amount
- $2,025,000 (75% of the approval)
- Lender
- Hancock Whitney Bank, Gulfport, MS
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 19, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $37,193 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 13, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 316110, Leather and Hide Tanning and Finishing
- Project location
- Jefferson County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Leather and Hide Tanning and Finishing: $2,700,000.
- Average acquisition loan in Louisiana: $1,702,056.
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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