Gay Real Estate
Gay Real Estate is an office of real estate agents and brokers located in Fort Lauderdale, Florida. It was financed with an SBA 7(a) loan for a change of ownership of $3,848,000, approved on March 21, 2024, by First Internet Bank of Indiana.
SBA 7(a) loan, change of ownership, approved Mar 21, 2024
$3,848,000 approvedLender: First Internet Bank of Indiana10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,848,000
- SBA-guaranteed amount
- $2,886,000 (75% of the approval)
- Lender
- First Internet Bank of Indiana, Fishers, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- March 21, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $52,463 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 531210, Offices of Real Estate Agents and Brokers
- Project location
- Broward County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-20
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 92% of acquisition loans in Offices of Real Estate Agents and Brokers on this site.
- Average acquisition loan in Offices of Real Estate Agents and Brokers: $1,593,492.
- Average acquisition loan in Florida: $1,808,559.
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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