Culture Lighting Co., Inc.
Culture Lighting Co., Inc. is a business in Indianapolis, Indiana, in the electrical apparatus and equipment, wiring supplies, and related equipment merchant wholesalers industry. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $2,888,000, approved by PNC Bank, National Association, on April 19, 2024.
SBA 7(a) loan, change of ownership, approved Apr 19, 2024
$2,888,000 approvedLender: PNC Bank, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,888,000
- SBA-guaranteed amount
- $2,166,000 (75% of the approval)
- Lender
- PNC Bank, National Association, Wilmington, DE
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.75%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- April 19, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $34,659 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
- 10
- Business type
- Corporation
- NAICS
- 423610, Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
- Project location
- Marion County, IN
- SBA district office
- Indiana District Office
- Congressional district
- IN-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 70% of acquisition loans in Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers on this site.
- Average acquisition loan in Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers: $1,962,200.
- Average acquisition loan in Indiana: $1,995,900.
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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