Eastern Armored Services Inc
Eastern Armored Services Inc is located in Hamilton, NJ, and the SBA lists its industry as Couriers and Express Delivery Services. It was approved for an SBA 7(a) loan of $3,578,000 for a change of ownership on December 16, 2024.
SBA 7(a) loan, change of ownership, approved Dec 16, 2024
- Gross approval
- $3,578,000
- SBA-guaranteed amount
- $2,683,500 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.62%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 16, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $46,534 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 27, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 25
- Business type
- Corporation
- NAICS
- 492110, Couriers and Express Delivery Services
- Project location
- Mercer County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 97% of acquisition loans in Couriers and Express Delivery Services on this site.
- Average acquisition loan in Couriers and Express Delivery Services: $1,263,343.
- Average acquisition loan in New Jersey: $1,626,307.
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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Same industry in New Jersey
- CCP Holdings Inc., Clifton