Main Street Registry

Whitmore Steel, Inc.

Spring Valley, CA · All Other Miscellaneous Fabricated Metal Product Manufacturing · NAICS 332999

Whitmore Steel, Inc. is a business in Spring Valley, CA, in the All Other Miscellaneous Fabricated Metal Product Manufacturing industry (NAICS 332999). The company was financed with an SBA 7(a) loan for a change of ownership of $2.5 million, approved on October 6, 2023 by Celtic Bank Corporation.

SBA 7(a) loan, change of ownership, approved Oct 6, 2023

$2,517,600 approvedLender: Celtic Bank Corporation10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,517,600
SBA-guaranteed amount
$1,888,200 (75% of the approval)
Lender
Celtic Bank Corporation, Salt Lake City, UT
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
10 years (120 months)
Estimated maturity
October 6, 2033 (estimated, approval date plus term)
Estimated monthly payment
$33,971 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 12, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
16
Business type
Corporation
NAICS
332999, All Other Miscellaneous Fabricated Metal Product Manufacturing
Project location
San Diego County, CA
SBA district office
San Diego District Office
Congressional district
CA-53
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 63% of acquisition loans in All Other Miscellaneous Fabricated Metal Product Manufacturing on this site.
  • Average acquisition loan in All Other Miscellaneous Fabricated Metal Product Manufacturing: $2,156,280.
  • Average acquisition loan in California: $1,688,228.

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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Same industry in California