Bluegrass Metal Works LLC
Bluegrass Metal Works LLC, located in Louisville, Kentucky, operates in rolling mill and other metalworking machinery manufacturing. The company was financed with an SBA 7(a) loan for a change of ownership of $4.8 million, approved on September 17, 2024, by Old Plank Trail Community Bank National Association.
SBA 7(a) loan, change of ownership, approved Sep 17, 2024
$4,832,000 approvedLender: Old Plank Trail Community Bank National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,832,000
- SBA-guaranteed amount
- $3,624,000 (75% of the approval)
- Lender
- Old Plank Trail Community Bank National Association, Mokena, IL
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 17, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $61,210 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 18, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 70
- Business type
- Corporation
- NAICS
- 333519, Rolling Mill and Other Metalworking Machinery Manufacturing
- Project location
- Jefferson County, KY
- SBA district office
- Kentucky District Office
- Congressional district
- KY-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Rolling Mill and Other Metalworking Machinery Manufacturing: $4,766,000.
- Average acquisition loan in Kentucky: $1,988,993.
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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