Donald and Jacqueline Schwander
Donald and Jacqueline Schwander, located in Diamondhead, Mississippi, operates in the bowling centers industry (NAICS 713950). The business was financed with an SBA 7(a) loan for a change of ownership of $1.3 million, approved on March 16, 2024 by American Bank.
SBA 7(a) loan, change of ownership, approved Mar 16, 2024
$1,295,000 approvedLender: American Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,295,000
- SBA-guaranteed amount
- $971,250 (75% of the approval)
- Lender
- American Bank, Covington, LA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 9.5%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- March 16, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $11,314 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 18, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 16
- Business type
- Individual
- NAICS
- 713950, Bowling Centers
- Project location
- Hancock County, MS
- SBA district office
- Mississippi District Office
- Congressional district
- MS-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 36% of acquisition loans in Bowling Centers on this site.
- Average acquisition loan in Bowling Centers: $1,943,000.
- Average acquisition loan in Mississippi: $1,688,600.
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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