Ideal Lumber & Hardware
Ideal Lumber & Hardware, located in Toppenish, WA, operates in the Other Building Material Dealers industry (NAICS 444180). The business was financed with an SBA 7(a) loan for a change of ownership of $5 million, approved on July 11, 2024 by Live Oak Banking Company, and the loan reports 38 jobs.
SBA 7(a) loan, change of ownership, approved Jul 11, 2024
$5,000,000 approvedLender: Live Oak Banking Company119 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $5,000,000
- SBA-guaranteed amount
- $3,750,000 (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
- 10.25%, variable
- Term
- 9 years, 11 months (119 months)
- Estimated maturity
- June 11, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $67,092 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 29, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 38
- Business type
- Corporation
- NAICS
- 444180, Other Building Material Dealers
- Project location
- Yakima County, WA
- SBA district office
- Seattle District Office
- Congressional district
- WA-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 95% of acquisition loans in Other Building Material Dealers on this site.
- Average acquisition loan in Other Building Material Dealers: $1,898,107.
- Average acquisition loan in Washington: $1,784,595.
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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