Worship Interiors Group LLC
Worship Interiors Group LLC is a reupholstery and furniture repair business located in Riverside, California. The company was financed with an SBA 7(a) loan for a change of ownership of $1.08 million, approved on December 9, 2024, by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Dec 9, 2024
$1,080,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,080,000
- SBA-guaranteed amount
- $810,000 (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
- 9.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 9, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $13,828 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 10, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 811420, Reupholstery and Furniture Repair
- Project location
- Riverside County, CA
- SBA district office
- Santa Ana District Office
- Congressional district
- CA-41
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Reupholstery and Furniture Repair: $1,496,333.
- 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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