Main Street Registry

Dream Coatings Inc

La Mesa, CA · Painting and Wall Covering Contractors · NAICS 238320

Dream Coatings Inc is located in La Mesa, CA, and the SBA lists its industry as Painting and Wall Covering Contractors. It was approved for an SBA 7(a) loan of $1,432,700 for a change of ownership on October 18, 2024.

SBA 7(a) loan, change of ownership, approved Oct 18, 2024

Gross approval
$1,432,700
SBA-guaranteed amount
$1,074,525 (75% of the approval)
Lender
Evolve Bank and Trust, West Memphis, AR
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.75%, variable
Term
10 years (120 months)
Estimated maturity
October 18, 2034 (estimated, approval date plus term)
Estimated monthly payment
$19,533 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
238320, Painting and Wall Covering Contractors
Project location
San Diego County, CA
SBA district office
San Diego District Office
Congressional district
CA-53
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in California