Brady Electric
Brady Electric is located in North Tonawanda, NY, and the SBA lists its industry as Electrical Contractors and Other Wiring Installation Contractors. It was approved for an SBA 7(a) loan of $2,531,500 for a change of ownership on April 6, 2024. This registry lists 2 loans for the company.
SBA 7(a) loan, change of ownership, approved Apr 6, 2024
- Gross approval
- $2,531,500
- SBA-guaranteed amount
- $1,898,625 (75% of the approval)
- Lender
- Celtic Bank Corporation, Salt Lake City, UT
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- April 6, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $34,871 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 70
- Business type
- Corporation
- NAICS
- 238210, Electrical Contractors and Other Wiring Installation Contractors
- Project location
- Niagara County, NY
- SBA district office
- Buffalo District Office
- Congressional district
- NY-26
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 71% of acquisition loans in Electrical Contractors and Other Wiring Installation Contractors on this site.
- Average acquisition loan in Electrical Contractors and Other Wiring Installation Contractors: $1,890,316.
- Average acquisition loan in New York: $1,771,512.
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.
SBA 7(a) loan, change of ownership, approved Apr 6, 2024
- Gross approval
- $1,461,600
- SBA-guaranteed amount
- $1,096,200 (75% of the approval)
- Lender
- Celtic Bank Corporation, Salt Lake City, UT
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- April 6, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $14,325 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 12, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 70
- Business type
- Corporation
- NAICS
- 238210, Electrical Contractors and Other Wiring Installation Contractors
- Project location
- Niagara County, NY
- SBA district office
- Buffalo District Office
- Congressional district
- NY-26
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 48% of acquisition loans in Electrical Contractors and Other Wiring Installation Contractors on this site.
- Average acquisition loan in Electrical Contractors and Other Wiring Installation Contractors: $1,890,316.
- Average acquisition loan in New York: $1,771,512.
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 New York
- A. Pompo Electric, Inc., Syracuse
- James A. Stone Electric, Inc., White Plains
- Triple J & A Holdings LLC, Smithtown Hamlet of Hauppauge
- Brindle Ventures Inc., Cicero
- Best Quality Electric, Hicksville