Wells & Water Systems, Inc
Wells & Water Systems, Inc, located in Fort Myers, Florida, operates in water and sewer line and related structures construction. The company was financed with an SBA 7(a) loan for a change of ownership totaling $3.71 million, with a 120-month term, approved by Pathward National Association on December 10, 2024.
SBA 7(a) loan, change of ownership, approved Dec 10, 2024
$3,710,000 approvedLender: Pathward National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,710,000
- SBA-guaranteed amount
- $2,782,500 (75% of the approval)
- Lender
- Pathward National Association, Sioux Falls, SD
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 10, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $48,516 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 3, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 237110, Water and Sewer Line and Related Structures Construction
- Project location
- Lee County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-19
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 54% of acquisition loans in Water and Sewer Line and Related Structures Construction on this site.
- Average acquisition loan in Water and Sewer Line and Related Structures Construction: $2,660,100.
- Average acquisition loan in Florida: $1,808,559.
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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