The Wilmington Iron and Metal Company, Inc.
The Wilmington Iron and Metal Company, Inc. is an iron and steel mill and ferroalloy manufacturer located in Wilmington, Ohio. It financed real estate or equipment through an SBA 504 loan of $4.2 million, approved on February 17, 2025, with Peoples Bank as the lender and Alloy Development Co., Inc. as the certified development company.
SBA 504 loan, approved Feb 17, 2025
$4,200,000 SBA portionCDC: Alloy Development Co., Inc.25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $4,200,000
- Bank portion
- $4,965,498
- Estimated project size
- $10,183,887 (estimated)
- Estimated owner equity
- $1,018,389 (estimated, about 10% of the project)
- Bank lender
- Peoples Bank, Marietta, OH
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- February 17, 2050 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 331110, Iron and Steel Mills and Ferroalloy Manufacturing
- Project location
- Clinton County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-10
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Iron and Steel Mills and Ferroalloy Manufacturing: $3,337,667.
- Average expansion loan in Ohio: $2,096,556.
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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