Beal Industrial Products, Inc.
Beal Industrial Products, Inc., based in Hanover, Maryland, operates in the industrial supplies merchant wholesalers industry (NAICS 423840). The company was financed with an SBA 7(a) loan for a change of ownership of $2,119,000, approved on November 4, 2023 through Univest Bank and Trust Co.
SBA 7(a) loan, change of ownership, approved Nov 4, 2023
$2,119,000 approvedLender: Univest Bank and Trust Co10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,119,000
- SBA-guaranteed amount
- $1,589,250 (75% of the approval)
- Lender
- Univest Bank and Trust Co, Souderton, PA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- November 4, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $29,490 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 29, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 423840, Industrial Supplies Merchant Wholesalers
- Project location
- Anne Arundel County, MD
- SBA district office
- Baltimore District Office
- Congressional district
- MD-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 65% of acquisition loans in Industrial Supplies Merchant Wholesalers on this site.
- Average acquisition loan in Industrial Supplies Merchant Wholesalers: $1,953,526.
- Average acquisition loan in Maryland: $1,627,337.
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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