Horizon Steel, LLC
Horizon Steel, LLC, located in Kalamazoo, Michigan, operates in metal service centers and other metal merchant wholesaling (NAICS 423510). The company financed real estate or equipment through an SBA 504 loan of $3.15 million, approved on August 7, 2024, through Northbrook Bank & Trust Company, National Association, with Small Business Growth Corporation as the certified development company.
SBA 504 loan, approved Aug 7, 2024
$3,150,000 SBA portionCDC: Small Business Growth Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $3,150,000
- Bank portion
- $4,457,000
- Estimated project size
- $8,452,222 (estimated)
- Estimated owner equity
- $845,222 (estimated, about 10% of the project)
- Bank lender
- Northbrook Bank & Trust Company, National Association, Northbrook, IL
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- August 7, 2049 (estimated, approval date plus term)
- First disbursement
- Jan 15, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 14
- Business type
- Corporation
- NAICS
- 423510, Metal Service Centers and Other Metal Merchant Wholesalers
- Project location
- Kalamazoo County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-6
- Collateral
- Yes
Estimated share of project by source
Bank 53% SBA (CDC) 37% Owner 10%
- Average expansion loan in Metal Service Centers and Other Metal Merchant Wholesalers: $2,443,125.
- Average expansion loan in Michigan: $2,050,489.
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.
Is this your company? Claim or correct this listing. See Corrections.
Same industry in Michigan
- West Walker Steel Co., Grand Rapids