Hays Orchard & Cider Mill
Hays Orchard & Cider Mill, located in Sandy, UT, is classified under the industry Frozen Fruit, Juice, and Vegetable Manufacturing (NAICS 311411). The business was financed with an SBA 7(a) loan for a change of ownership of $3.33 million, lender Live Oak Banking Company, with approval dated July 12, 2024.
SBA 7(a) loan, change of ownership, approved Jul 12, 2024
$3,330,000 approvedLender: Live Oak Banking Company23 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,330,000
- SBA-guaranteed amount
- $2,497,500 (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
- 10.5%, variable
- Term
- 23 years (276 months)
- Estimated maturity
- July 12, 2047 (estimated, approval date plus term)
- Estimated monthly payment
- $32,030 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 5, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 311411, Frozen Fruit, Juice, and Vegetable Manufacturing
- Project location
- Columbiana County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Frozen Fruit, Juice, and Vegetable Manufacturing: $3,330,000.
- Average acquisition loan in Utah: $1,761,092.
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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