Allen & Major Associates, Inc.
Allen & Major Associates, Inc. is an engineering services business located in Woburn, Massachusetts, classified under NAICS code 541330. The company was financed with an SBA 7(a) loan for a change of ownership of $4.4 million, approved on December 20, 2024, through Northern Bank and Trust Company.
SBA 7(a) loan, change of ownership, approved Dec 20, 2024
$4,447,500 approvedLender: Northern Bank and Trust Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,447,500
- SBA-guaranteed amount
- $3,335,625 (75% of the approval)
- Lender
- Northern Bank and Trust Company, Woburn, MA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 20, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $55,143 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 2, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 37
- Business type
- Corporation
- NAICS
- 541330, Engineering Services
- Project location
- Middlesex County, MA
- SBA district office
- Massachusetts District Office
- Congressional district
- MA-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 90% of acquisition loans in Engineering Services on this site.
- Average acquisition loan in Engineering Services: $1,946,706.
- Average acquisition loan in Massachusetts: $1,643,977.
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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