True North Marine, LLC
True North Marine, LLC is a marina business located in Kemah, Texas, in the NAICS category for marinas. It financed real estate or equipment through an SBA 504 loan of $1,835,000 (SBA portion), approved on July 25, 2025, with Huntington BancShares, Inc as the bank lender and Capital Certified Development Corporation as the CDC.
SBA 504 loan, approved Jul 25, 2025
- SBA (CDC) portion
- $1,835,000
- Bank portion
- $1,953,503
- Estimated project size
- $4,209,448 (estimated)
- Estimated owner equity
- $420,945 (estimated, about 10% of the project)
- Bank lender
- Huntington BancShares, Inc, Huntington, TX
- Processing method
- 504 Refinancing: refinances existing business debt
- Term
- 25 years (300 months)
- Estimated maturity
- July 25, 2050 (estimated, approval date plus term)
- First disbursement
- Apr 15, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 713930, Marinas
- Franchise
- Mercury Marine Dealer Sales and Service Agreement
- Project location
- Galveston County, TX
- SBA district office
- Houston District Office
- Congressional district
- TX-14
- Collateral
- Yes
Estimated share of project by source
Bank 46% SBA (CDC) 44% Owner 10%
- Average expansion loan in Marinas: $1,830,000.
- Average expansion loan in Texas: $2,316,979.
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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