Artman's Nursery Operating Company LLC
Artman's Nursery Operating Company LLC is located in Westland, MI, and the SBA lists its industry as Nursery, Garden Center, and Farm Supply Retailers. It was approved for an SBA 7(a) loan of $2,503,400 for a change of ownership on February 3, 2025. This registry lists 2 loans for the company.
SBA 7(a) loan, change of ownership, approved Feb 3, 2025
- Gross approval
- $2,503,400
- SBA-guaranteed amount
- $1,877,550 (75% of the approval)
- Lender
- DFCU Financial, Dearborn, MI
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- February 3, 2050 (estimated, approval date plus term)
- Estimated monthly payment
- $21,008 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 14, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 28
- Business type
- Corporation
- NAICS
- 444240, Nursery, Garden Center, and Farm Supply Retailers
- Project location
- Wayne County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-13
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 78% of acquisition loans in Nursery, Garden Center, and Farm Supply Retailers on this site.
- Average acquisition loan in Nursery, Garden Center, and Farm Supply Retailers: $1,340,850.
- Average acquisition loan in Michigan: $1,645,728.
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.
SBA 7(a) loan, change of ownership, approved Feb 3, 2025
- Gross approval
- $500,000
- SBA-guaranteed amount
- $250,000 (50% of the approval)
- Lender
- DFCU Financial, Dearborn, MI
- Processing method
- SBA Express: streamlined process using the lender's own procedures, with a smaller SBA guarantee
- Initial interest rate
- 9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 3, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $6,334 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 14, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 28
- Business type
- Corporation
- NAICS
- 444240, Nursery, Garden Center, and Farm Supply Retailers
- Project location
- Wayne County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-13
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- Yes
- Average acquisition loan in Nursery, Garden Center, and Farm Supply Retailers: $1,340,850.
- Average acquisition loan in Michigan: $1,645,728.
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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Same industry in Michigan
- Church & Beech Redevelopment LLC, Cedar Springs
- Rhino Seed & Landscape Supply, L.L.C., Wayland