Coster Outfitters, LLC
Coster Outfitters, LLC is a sporting goods retailer in Orange Beach, Alabama, classified under NAICS 459110 (Sporting Goods Retailers). The company was financed with SBA 7(a) loans for a change of ownership, totaling $5,000,000 in approved amounts, with Live Oak Banking Company as the lender and approvals dated September 26 and September 27, 2024.
SBA 7(a) loan, change of ownership, approved Sep 27, 2024
$4,500,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,500,000
- SBA-guaranteed amount
- $3,375,000 (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
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 27, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $60,093 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 4, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 34
- Business type
- Corporation
- NAICS
- 459110, Sporting Goods Retailers
- Project location
- Baldwin County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 98% of acquisition loans in Sporting Goods Retailers on this site.
- Average acquisition loan in Sporting Goods Retailers: $1,337,498.
- Average acquisition loan in Alabama: $1,764,717.
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 Sep 26, 2024
$500,000 approvedLender: Live Oak Banking Company10 years termCommitted, not fully disbursedLoan details
- Gross approval
- $500,000
- SBA-guaranteed amount
- $250,000 (50% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- SBA Express: streamlined process using the lender's own procedures, with a smaller SBA guarantee
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 26, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $6,817 Estimated payment at the initial rate over the full term; actual terms vary.
- Loan status
- Committed, not fully disbursed
- Jobs supported
- 34
- Business type
- Corporation
- NAICS
- 459110, Sporting Goods Retailers
- Project location
- Baldwin County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- Yes
- Average acquisition loan in Sporting Goods Retailers: $1,337,498.
- Average acquisition loan in Alabama: $1,764,717.
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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