Classic Metals Suppliers, Corp.
Classic Metals Suppliers, Corp. is a metal service center and merchant wholesaler located in Opa-locka, Florida, classified under NAICS code 423510. The business financed real estate or equipment through an SBA 504 loan of $4,477,000, approved on January 19, 2024, with Banesco USA as the lender and Florida Business Development Corporation as the certified development company.
SBA 504 loan, approved Jan 19, 2024
$4,477,000 SBA portionCDC: Florida Business Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $4,477,000
- Bank portion
- $5,375,468
- Estimated project size
- $10,947,187 (estimated)
- Estimated owner equity
- $1,094,719 (estimated, about 10% of the project)
- Bank lender
- Banesco USA, Miami, FL
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- January 19, 2049 (estimated, approval date plus term)
- First disbursement
- Apr 17, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 423510, Metal Service Centers and Other Metal Merchant Wholesalers
- Project location
- Miami-Dade County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-24
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Metal Service Centers and Other Metal Merchant Wholesalers: $2,443,125.
- Average expansion loan in Florida: $2,058,496.
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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