HRS Electrical Contractors LLC
HRS Electrical Contractors LLC is located in Norcross, GA, and the SBA lists its industry as Electrical Contractors and Other Wiring Installation Contractors. It was approved for an SBA 7(a) loan of $500,000 for a change of ownership on September 4, 2024.
SBA 7(a) loan, change of ownership, approved Sep 4, 2024
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (75% of the approval)
- Lender
- FinWise Bank, Murray, UT
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 4, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $6,958 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 19, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 15
- Business type
- Corporation
- NAICS
- 238210, Electrical Contractors and Other Wiring Installation Contractors
- Project location
- Gwinnett County, GA
- SBA district office
- Georgia District Office
- Congressional district
- GA-07
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Electrical Contractors and Other Wiring Installation Contractors: $1,890,316.
- 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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