Aggregates of South Florida LLC
Aggregates of South Florida LLC, based in Miami, Florida, operates in brick, stone, and related construction material merchant wholesaling. The company was financed with an SBA 7(a) loan for a change of ownership totaling $3,150,000, approved on November 21, 2023 by Newtek Bank, National Association.
SBA 7(a) loan, change of ownership, approved Nov 21, 2023
$3,150,000 approvedLender: Newtek Bank, National Association89 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,150,000
- SBA-guaranteed amount
- $2,362,500 (75% of the approval)
- Lender
- Newtek Bank, National Association, Miami, FL
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.5%, variable
- Term
- 7 years, 5 months (89 months)
- Estimated maturity
- April 21, 2031 (estimated, approval date plus term)
- Estimated monthly payment
- $52,767 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 30, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 28
- Business type
- Corporation
- NAICS
- 423320, Brick, Stone, and Related Construction Material Merchant Wholesalers
- Project location
- Miami-Dade County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-24
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Brick, Stone, and Related Construction Material Merchant Wholesalers: $1,679,250.
- 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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