Coastal Clean Energy, LLC
Coastal Clean Energy, LLC, located in North Kingstown, Rhode Island, operates in the all other specialty trade contractors industry (NAICS 238990). The company was financed with an SBA 7(a) loan for a change of ownership of $2,055,000, approved on November 27, 2024, through The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Nov 27, 2024
$2,055,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,055,000
- SBA-guaranteed amount
- $1,541,250 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- November 27, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $26,591 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 9, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 17
- Business type
- Corporation
- NAICS
- 238990, All Other Specialty Trade Contractors
- Project location
- Washington County, RI
- SBA district office
- Rhode Island District Office
- Congressional district
- RI-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 65% of acquisition loans in All Other Specialty Trade Contractors on this site.
- Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
- Average acquisition loan in Rhode Island: $1,739,073.
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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