Main Street Registry

Aresco of Tidewater LLC

Virginia Beach, VA · All Other Specialty Trade Contractors · NAICS 238990

Aresco of Tidewater LLC is a specialty trade contractor in Virginia Beach, Virginia, classified under All Other Specialty Trade Contractors. The company was financed with an SBA 7(a) loan for a change of ownership of $1.463 million from Bank of Oak Ridge, with approval dated April 23, 2024.

SBA 7(a) loan, change of ownership, approved Apr 23, 2024

$1,463,000 approvedLender: Bank of Oak Ridge10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,463,000
SBA-guaranteed amount
$1,097,250 (75% of the approval)
Lender
Bank of Oak Ridge, Oak Ridge, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
10 years (120 months)
Estimated maturity
April 23, 2034 (estimated, approval date plus term)
Estimated monthly payment
$19,741 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
May 31, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
238990, All Other Specialty Trade Contractors
Project location
Virginia Beach City County, VA
SBA district office
Richmond District Office
Congressional district
VA-02
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 47% of acquisition loans in All Other Specialty Trade Contractors on this site.
  • Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
  • Average acquisition loan in Virginia: $1,860,760.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Virginia