GRI Appliance, LLC
GRI Appliance, LLC is located in Fayetteville, NC, and the SBA lists its industry as Electronics and Appliance Retailers. It was approved for an SBA 7(a) loan of $737,500 for a change of ownership on July 22, 2024.
SBA 7(a) loan, change of ownership, approved Jul 22, 2024
- Gross approval
- $737,500
- SBA-guaranteed amount
- $553,125 (75% of the approval)
- Lender
- The Fidelity Bank, Fuquay Varina, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 22, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $9,951 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 40
- Business type
- Corporation
- NAICS
- 449210, Electronics and Appliance Retailers
- Project location
- Cumberland County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-08
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 13% of acquisition loans in Electronics and Appliance Retailers on this site.
- Average acquisition loan in Electronics and Appliance Retailers: $1,482,373.
- 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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