Toys of Cary LLC
Toys of Cary LLC is a hobby, toy, and game retailer located in Cary, North Carolina, classified under NAICS code 459120. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,000,000, approved December 1, 2023, by SouthState Bank, National Association. The loan is associated with the Learning Express franchise and lists 10 jobs.
SBA 7(a) loan, change of ownership, approved Dec 1, 2023
$1,000,000 approvedLender: SouthState Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,000,000
- SBA-guaranteed amount
- $750,000 (75% of the approval)
- Lender
- SouthState Bank, National Association, Winter Haven, FL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 1, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $12,668 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 29, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 459120, Hobby, Toy, and Game Retailers
- Franchise
- Learning Express
- Project location
- Wake County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 64% of acquisition loans in Hobby, Toy, and Game Retailers on this site.
- Average acquisition loan in Hobby, Toy, and Game Retailers: $1,090,500.
- 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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