Fresh & Fold, LLC
Fresh & Fold, LLC is a business in Greensboro, NC, in the coin-operated laundries and drycleaners industry (NAICS 812310). The company was financed with an SBA 7(a) loan for a change of ownership of $810,000, approved on February 29, 2024 by Beacon Bank and Trust.
SBA 7(a) loan, change of ownership, approved Feb 29, 2024
$810,000 approvedLender: Beacon Bank and Trust309 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $810,000
- SBA-guaranteed amount
- $607,500 (75% of the approval)
- Lender
- Beacon Bank and Trust, Brookline, MA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 25 years, 9 months (309 months)
- Estimated maturity
- November 29, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $8,044 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 14, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 812310, Coin-Operated Laundries and Drycleaners
- Project location
- Guilford County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 35% of acquisition loans in Coin-Operated Laundries and Drycleaners on this site.
- Average acquisition loan in Coin-Operated Laundries and Drycleaners: $1,337,074.
- Average acquisition loan in North Carolina: $1,952,444.
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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