Utah Sealcoat Inc
Utah Sealcoat Inc is located in Springville, UT, and the SBA lists its industry as Asphalt Paving Mixture and Block Manufacturing. It was approved for an SBA 7(a) loan of $1,112,500 for a change of ownership on May 30, 2024.
SBA 7(a) loan, change of ownership, approved May 30, 2024
- Gross approval
- $1,112,500
- SBA-guaranteed amount
- $834,375 (75% of the approval)
- Lender
- Central Bank, Provo, UT
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 30, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $14,702 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 11, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 324121, Asphalt Paving Mixture and Block Manufacturing
- Franchise
- SealMaster
- Project location
- Utah County, UT
- SBA district office
- Utah District Office
- Congressional district
- UT-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Asphalt Paving Mixture and Block Manufacturing: $3,130,833.
- Average acquisition loan in Utah: $1,761,092.
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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