Atlantic Manufacturing Inc.
Atlantic Manufacturing Inc. is located in Farmingdale, NJ, and the SBA lists its industry as All Other Miscellaneous Fabricated Metal Product Manufacturing. It was approved for an SBA 7(a) loan of $2,078,000 for a change of ownership on September 26, 2024.
SBA 7(a) loan, change of ownership, approved Sep 26, 2024
- Gross approval
- $2,078,000
- SBA-guaranteed amount
- $1,558,500 (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
- 25 years (300 months)
- Estimated maturity
- September 26, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $17,084 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 8, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 332999, All Other Miscellaneous Fabricated Metal Product Manufacturing
- Project location
- Monmouth County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 51% of acquisition loans in All Other Miscellaneous Fabricated Metal Product Manufacturing on this site.
- Average acquisition loan in All Other Miscellaneous Fabricated Metal Product Manufacturing: $2,156,280.
- Average acquisition loan in New Jersey: $1,626,307.
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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