B & V Gallegos, LLC
B & V Gallegos, LLC is a business in Phoenix, Arizona, classified under NAICS 314999, All Other Miscellaneous Textile Product Mills. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $4,915,000, with approval recorded on September 25, 2024, through Midwest Regional Bank.
SBA 7(a) loan, change of ownership, approved Sep 25, 2024
$4,915,000 approvedLender: Midwest Regional Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,915,000
- SBA-guaranteed amount
- $3,686,250 (75% of the approval)
- Lender
- Midwest Regional Bank, Festus, MO
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- September 25, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $49,063 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 30, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 28
- Business type
- Corporation
- NAICS
- 314999, All Other Miscellaneous Textile Product Mills
- Project location
- Maricopa County, AZ
- SBA district office
- Arizona District Office
- Congressional district
- AZ-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in All Other Miscellaneous Textile Product Mills: $2,887,617.
- Average acquisition loan in Arizona: $1,690,811.
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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