Alexandria Gravel Products, LLC
Alexandria Gravel Products, LLC is a construction sand and gravel mining business located in Moorhead, Minnesota. The company financed real estate or equipment through an SBA 504 loan with an SBA portion of $1,459,000, approved on May 17, 2024, through First Western Bank & Trust and Midwest Business Finance Corporation.
SBA 504 loan, approved May 17, 2024
$1,459,000 SBA portionCDC: Midwest Business Finance Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,459,000
- Bank portion
- $1,750,000
- Estimated project size
- $3,565,556 (estimated)
- Estimated owner equity
- $356,556 (estimated, about 10% of the project)
- Bank lender
- First Western Bank & Trust, Minot, ND
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- May 17, 2049 (estimated, approval date plus term)
- First disbursement
- Sep 11, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 212321, Construction Sand and Gravel Mining
- Project location
- Clay County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-7
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Construction Sand and Gravel Mining: $1,702,500.
- Average expansion loan in Minnesota: $2,136,981.
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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