American Craft LLC
American Craft LLC is located in Vernon, VT, and the SBA lists its industry as Furniture Retailers. It was approved for an SBA 7(a) loan of $2,662,000 for a change of ownership on September 6, 2024.
SBA 7(a) loan, change of ownership, approved Sep 6, 2024
- Gross approval
- $2,662,000
- SBA-guaranteed amount
- $1,996,500 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.75%, fixed
- Term
- 16 years (192 months)
- Estimated maturity
- September 6, 2040 (estimated, approval date plus term)
- Estimated monthly payment
- $25,807 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 23, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 449110, Furniture Retailers
- Project location
- Windham County, VT
- SBA district office
- Vermont District Office
- Congressional district
- VT-00
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 70% of acquisition loans in Furniture Retailers on this site.
- Average acquisition loan in Furniture Retailers: $1,875,127.
- Average acquisition loan in Vermont: $1,727,847.
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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