American Tile & Stone
American Tile & Stone is located in Rohnert Park, CA, and the SBA lists its industry as Tile and Terrazzo Contractors. It was approved for an SBA 7(a) loan of $1,845,000 for a change of ownership on June 17, 2024.
SBA 7(a) loan, change of ownership, approved Jun 17, 2024
- Gross approval
- $1,845,000
- SBA-guaranteed amount
- $1,383,750 (75% of the approval)
- Lender
- Heritage Bank Inc, Burlington, KY
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- June 17, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $25,677 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 24, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 71
- Business type
- Corporation
- NAICS
- 238340, Tile and Terrazzo Contractors
- Project location
- Sonoma County, CA
- SBA district office
- San Francisco District Office
- Congressional district
- CA-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Tile and Terrazzo Contractors: $1,773,467.
- Average acquisition loan in California: $1,688,228.
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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- Waiss Kader, San Diego
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