A&B Whit Solutions LLC
A&B Whit Solutions LLC is a machine shop in Seminole, FL, classified under NAICS 332710 (Machine Shops). The company was financed with an SBA 7(a) loan for a change of ownership of $778,500, approved on August 6, 2024, through Cogent Bank.
SBA 7(a) loan, change of ownership, approved Aug 6, 2024
- Gross approval
- $778,500
- SBA-guaranteed amount
- $700,650 (90% of the approval)
- Lender
- Cogent Bank, Orlando, FL
- Processing method
- International Trade Loan: for businesses that export or are preparing to
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 6, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $10,505 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 22, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 332710, Machine Shops
- Project location
- Pinellas County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-13
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 15% of acquisition loans in Machine Shops on this site.
- Average acquisition loan in Machine Shops: $2,116,278.
- 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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