Davis Cultured Marble LLC
Davis Cultured Marble LLC is a business in Sellersburg, Indiana, in the cut stone and stone product manufacturing industry. It was financed with an SBA 7(a) loan for a change of ownership, approved on September 27, 2024, in the amount of $595,000 through The New Washington State Bank.
SBA 7(a) loan, change of ownership, approved Sep 27, 2024
$595,000 approvedLender: The New Washington State Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $595,000
- SBA-guaranteed amount
- $446,250 (75% of the approval)
- Lender
- The New Washington State Bank, New Washington, IN
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 9.5%, fixed
- Term
- 25 years (300 months)
- Estimated maturity
- September 27, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $5,198 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 327991, Cut Stone and Stone Product Manufacturing
- Project location
- Clark County, IN
- SBA district office
- Indiana District Office
- Congressional district
- IN-09
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Cut Stone and Stone Product Manufacturing: $1,615,785.
- 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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