The Horseshoe Crab, LLC
The Horseshoe Crab, LLC, located in Savannah, Georgia, operates in the gift, novelty, and souvenir retail industry (NAICS 459420). The business was financed with an SBA 7(a) loan for a change of ownership totaling $1,375,000, with a 120-month term, from First-Citizens Bank & Trust Company, with an approval date of May 19, 2026.
SBA 7(a) loan, change of ownership, approved May 19, 2026
$1,375,000 approvedLender: First-Citizens Bank & Trust Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,375,000
- SBA-guaranteed amount
- $1,031,250 (75% of the approval)
- Lender
- First-Citizens Bank & Trust Company, Raleigh, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 19, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $17,981 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 4, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 14
- Business type
- Corporation
- NAICS
- 459420, Gift, Novelty, and Souvenir Retailers
- Project location
- Chatham County, GA
- SBA district office
- Georgia District Office
- Congressional district
- GA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 59% of acquisition loans in Gift, Novelty, and Souvenir Retailers on this site.
- Average acquisition loan in Gift, Novelty, and Souvenir Retailers: $1,214,814.
- Average acquisition loan in Georgia: $2,017,638.
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 Georgia
- High Tide Industries, LLC, Saint Simons Island