Andover Seafoods, LLC
Andover Seafoods, LLC is located in Somersworth, New Hampshire, and operates in the fish and seafood merchant wholesalers industry. The company was financed with an SBA 7(a) loan for a change of ownership totaling $3,364,300, approved on April 11, 2025, by Beacon Bank and Trust.
SBA 7(a) loan, change of ownership, approved Apr 11, 2025
$3,364,300 approvedLender: Beacon Bank and Trust25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,364,300
- SBA-guaranteed amount
- $2,523,225 (75% of the approval)
- Lender
- Beacon Bank and Trust, Brookline, MA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- April 11, 2050 (estimated, approval date plus term)
- Estimated monthly payment
- $28,811 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 9, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 424460, Fish and Seafood Merchant Wholesalers
- Project location
- Strafford County, NH
- SBA district office
- New Hampshire District Office
- Congressional district
- NH-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Fish and Seafood Merchant Wholesalers: $2,509,950.
- Average acquisition loan in New Hampshire: $1,811,437.
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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