Ability Medical Supply, Inc.
Ability Medical Supply, Inc. is a business in Stuart, Florida, in the all other health and personal care retailers industry. It was financed with an SBA 7(a) loan for a change of ownership of $2 million, approved on December 22, 2023, by Gulf Coast Bank and Trust Company.
SBA 7(a) loan, change of ownership, approved Dec 22, 2023
$2,000,000 approvedLender: Gulf Coast Bank and Trust Company102 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,000,000
- SBA-guaranteed amount
- $1,500,000 (75% of the approval)
- Lender
- Gulf Coast Bank and Trust Company, New Orleans, LA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 8 years, 6 months (102 months)
- Estimated maturity
- June 22, 2032 (estimated, approval date plus term)
- Estimated monthly payment
- $30,266 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 5, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 28
- Business type
- Corporation
- NAICS
- 456199, All Other Health and Personal Care Retailers
- Project location
- Martin County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-18
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 55% of acquisition loans in All Other Health and Personal Care Retailers on this site.
- Average acquisition loan in All Other Health and Personal Care Retailers: $1,847,927.
- 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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- Zev Supplies Corp., Pompano Beach
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