W&L Storage, LLC
W&L Storage, LLC is a self-storage business in West Burlington, Iowa, classified under the NAICS industry for lessors of miniwarehouses and self-storage units. The company was financed with an SBA 7(a) loan for a change of ownership totaling $510,000, approved on February 13, 2024, through Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Feb 13, 2024
$510,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $510,000
- SBA-guaranteed amount
- $382,500 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- February 13, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $4,634 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 531130, Lessors of Miniwarehouses and Self-Storage Units
- Project location
- Des Moines County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Lessors of Miniwarehouses and Self-Storage Units: $1,454,898.
- Average acquisition loan in Iowa: $1,701,244.
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.
Is this your company? Claim or correct this listing. See Corrections.