HF Electric Motor Company, LLC
HF Electric Motor Company, LLC is located in Goldsboro, North Carolina, and operates in electronic and precision equipment repair and maintenance. The business was financed with an SBA 7(a) loan for a change of ownership totaling $646,000, approved on November 15, 2024, through The Fidelity Bank. The loan is reported with 8 jobs.
SBA 7(a) loan, change of ownership, approved Nov 15, 2024
$646,000 approvedLender: The Fidelity Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $646,000
- SBA-guaranteed amount
- $484,500 (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%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- November 15, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,537 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 26, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 811210, Electronic and Precision Equipment Repair and Maintenance
- Project location
- Wayne County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 8% of acquisition loans in Electronic and Precision Equipment Repair and Maintenance on this site.
- Average acquisition loan in Electronic and Precision Equipment Repair and Maintenance: $2,128,331.
- 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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