Heads Electric LLC
Heads Electric LLC is located in Evansville, IN, and the SBA lists its industry as Electrical Contractors and Other Wiring Installation Contractors. It was approved for an SBA 7(a) loan of $1,069,000 for a change of ownership on March 11, 2025.
SBA 7(a) loan, change of ownership, approved Mar 11, 2025
- Gross approval
- $1,069,000
- SBA-guaranteed amount
- $801,750 (75% of the approval)
- Lender
- Old National Bank, Evansville, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8%, fixed
- Term
- 25 years (300 months)
- Estimated maturity
- March 11, 2050 (estimated, approval date plus term)
- Estimated monthly payment
- $8,251 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 28, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 18
- Business type
- Corporation
- NAICS
- 238210, Electrical Contractors and Other Wiring Installation Contractors
- Project location
- Vanderburgh County, IN
- SBA district office
- Indiana District Office
- Congressional district
- IN-08
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 31% of acquisition loans in Electrical Contractors and Other Wiring Installation Contractors on this site.
- Average acquisition loan in Electrical Contractors and Other Wiring Installation Contractors: $1,890,316.
- Average acquisition loan in Indiana: $1,995,900.
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 Indiana
- Banner Electric, Plymouth
- GRM Group LLC, Seymour