Hughes Industries, LLC
Hughes Industries, LLC is a business in Conover, North Carolina, classified under All Other Miscellaneous Manufacturing (NAICS 339999). The company was financed with an SBA 7(a) loan for a change of ownership of $1.05 million, approved on February 20, 2025 by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Feb 20, 2025
$1,050,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,050,000
- SBA-guaranteed amount
- $787,500 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- February 20, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $13,587 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 27, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 17
- Business type
- Corporation
- NAICS
- 339999, All Other Miscellaneous Manufacturing
- Project location
- Catawba County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 31% of acquisition loans in All Other Miscellaneous Manufacturing on this site.
- Average acquisition loan in All Other Miscellaneous Manufacturing: $1,844,417.
- 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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