Design Concepts & Solutions, LLC
Design Concepts & Solutions, LLC is an insurance agency or brokerage located in Wichita, Kansas, classified under NAICS code 524210 (Insurance Agencies and Brokerages). The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $720,700, approved on February 28, 2024 by The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Feb 28, 2024
$720,700 approvedLender: The Huntington National Bank119 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $720,700
- SBA-guaranteed amount
- $540,525 (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
- 11.25%, variable
- Term
- 9 years, 11 months (119 months)
- Estimated maturity
- January 28, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $10,076 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 5, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- Sedgwick County, KS
- SBA district office
- Wichita District Office
- Congressional district
- KS-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 23% of acquisition loans in Insurance Agencies and Brokerages on this site.
- Average acquisition loan in Insurance Agencies and Brokerages: $1,528,335.
- Average acquisition loan in Kansas: $1,491,022.
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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