1st Choice Foundation Repair Co.
1st Choice Foundation Repair Co., located in McKinney, Texas, operates in the poured concrete foundation and structure contractors industry. The business was financed with an SBA 7(a) loan for a change of ownership of $1,480,000, approved on December 2, 2025, by First Internet Bank of Indiana.
SBA 7(a) loan, change of ownership, approved Dec 2, 2025
$1,480,000 approvedLender: First Internet Bank of Indiana10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,480,000
- SBA-guaranteed amount
- $1,110,000 (75% of the approval)
- Lender
- First Internet Bank of Indiana, Fishers, IN
- 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 2, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $19,354 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 10, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 238110, Poured Concrete Foundation and Structure Contractors
- Project location
- Collin County, TX
- SBA district office
- Dallas / Ft Worth District Office
- Congressional district
- TX-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 63% of acquisition loans in Poured Concrete Foundation and Structure Contractors on this site.
- Average acquisition loan in Poured Concrete Foundation and Structure Contractors: $1,469,074.
- Average acquisition loan in Texas: $1,944,682.
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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