Cung Farm LLC
Cung Farm LLC is located in Big Cabin, OK, and the SBA lists its industry as Broilers and Other Meat Type Chicken Production. It was approved for an SBA 7(a) loan of $1,062,000 for a change of ownership on March 12, 2024.
SBA 7(a) loan, change of ownership, approved Mar 12, 2024
- Gross approval
- $1,062,000
- SBA-guaranteed amount
- $796,500 (75% of the approval)
- Lender
- Arvest Bank, Fayetteville, AR
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 12, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,885 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 28, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 112320, Broilers and Other Meat Type Chicken Production
- Project location
- Craig County, OK
- SBA district office
- Oklahoma District Office
- Congressional district
- OK-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 28% of acquisition loans in Broilers and Other Meat Type Chicken Production on this site.
- Average acquisition loan in Broilers and Other Meat Type Chicken Production: $1,906,719.
- Average acquisition loan in Oklahoma: $1,861,759.
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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