C-Flex Bearing Company
C-Flex Bearing Company is located in Frankfort, NY, and the SBA lists its industry as Machine Shops. It was approved for an SBA 7(a) loan of $5,000,000 for a change of ownership on August 15, 2024.
SBA 7(a) loan, change of ownership, approved Aug 15, 2024
- Gross approval
- $5,000,000
- SBA-guaranteed amount
- $3,750,000 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 12 years (144 months)
- Estimated maturity
- August 15, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $59,034 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 19, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 21
- Business type
- Corporation
- NAICS
- 332710, Machine Shops
- Project location
- Herkimer County, NY
- SBA district office
- Syracuse District Office
- Congressional district
- NY-22
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 96% of acquisition loans in Machine Shops on this site.
- Average acquisition loan in Machine Shops: $2,116,278.
- 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
- Rsa Manufacturing LLC, Ontario
- Prometheus RF LLC, Rochester