Main Street Registry

BetterCraft Holdings, Inc.

Sandy, UT · Wood Kitchen Cabinet and Countertop Manufacturing · NAICS 337110

BetterCraft Holdings, Inc. is a wood kitchen cabinet and countertop manufacturer located in Sandy, Utah. The business was financed with an SBA 7(a) loan for a change of ownership, with a loan amount of $615,000 from United Midwest Savings Bank National Association, approved on November 24, 2023.

SBA 7(a) loan, change of ownership, approved Nov 24, 2023

$615,000 approvedLender: United Midwest Savings Bank National Association10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$615,000
SBA-guaranteed amount
$461,250 (75% of the approval)
Lender
United Midwest Savings Bank National Association, De Graff, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
11%, variable
Term
10 years (120 months)
Estimated maturity
November 24, 2033 (estimated, approval date plus term)
Estimated monthly payment
$8,472 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Nov 27, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
337110, Wood Kitchen Cabinet and Countertop Manufacturing
Project location
Salt Lake County, UT
SBA district office
Utah District Office
Congressional district
UT-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 10% of acquisition loans in Wood Kitchen Cabinet and Countertop Manufacturing on this site.
  • Average acquisition loan in Wood Kitchen Cabinet and Countertop Manufacturing: $1,828,277.
  • Average acquisition loan in Utah: $1,761,092.

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 Utah