Holwerda Growers, LLC
Holwerda Growers, LLC is a floriculture production business in Holland, Michigan, classified under NAICS code 111422. The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $800,000, approved on November 4, 2023 by The Huntington National Bank. The loan is recorded with 8 jobs.
SBA 7(a) loan, change of ownership, approved Nov 4, 2023
- Gross approval
- $800,000
- SBA-guaranteed amount
- $600,000 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, fixed
- Term
- 19 years (228 months)
- Estimated maturity
- November 4, 2042 (estimated, approval date plus term)
- Estimated monthly payment
- $7,084 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 22, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 111422, Floriculture Production
- Project location
- Ottawa County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Floriculture Production: $727,500.
- Average acquisition loan in Michigan: $1,645,728.
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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