Fairhaven Runners, Inc.
Fairhaven Runners, Inc. is a sporting goods retailer located in Bellingham, Washington, classified under NAICS 459110 (Sporting Goods Retailers). The business was financed with an SBA 7(a) loan for a change of ownership of $900,000, approved on August 2, 2024, through Peoples Bank.
SBA 7(a) loan, change of ownership, approved Aug 2, 2024
$900,000 approvedLender: Peoples Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $900,000
- SBA-guaranteed amount
- $675,000 (75% of the approval)
- Lender
- Peoples Bank, Bellingham, WA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 2, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $11,159 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 13, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 459110, Sporting Goods Retailers
- Project location
- Whatcom County, WA
- SBA district office
- Seattle District Office
- Congressional district
- WA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 45% of acquisition loans in Sporting Goods Retailers on this site.
- Average acquisition loan in Sporting Goods Retailers: $1,337,498.
- Average acquisition loan in Washington: $1,784,595.
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 Washington
- Deakins Mountain Outfitters Co, Spokane