Cash N Carry Flooring, LLC
Cash N Carry Flooring, LLC is a floor covering retailer in Traverse City, Michigan, classified under NAICS 449121. The company was financed with an SBA 7(a) loan for a change of ownership, with an approved amount of $4,630,200 from Old National Bank and an approval date of April 25, 2024.
SBA 7(a) loan, change of ownership, approved Apr 25, 2024
$4,630,200 approvedLender: Old National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,630,200
- SBA-guaranteed amount
- $3,472,650 (75% of the approval)
- Lender
- Old National Bank, Evansville, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- April 25, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $58,653 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 42
- Business type
- Corporation
- NAICS
- 449121, Floor Covering Retailers
- Project location
- Grand Traverse County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 84% of acquisition loans in Floor Covering Retailers on this site.
- Average acquisition loan in Floor Covering Retailers: $2,205,596.
- Average acquisition loan in Michigan: $1,645,728.
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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