J Hancock Plumbing LLC
J Hancock Plumbing LLC is a plumbing, heating, and air-conditioning contractor in Birmingham, AL, under NAICS code 238220. The company was financed with an SBA 7(a) loan for a change of ownership, totaling $1,210,000, approved on February 1, 2024 through United Midwest Savings Bank National Association.
SBA 7(a) loan, change of ownership, approved Feb 1, 2024
$1,210,000 approvedLender: United Midwest Savings Bank National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,210,000
- SBA-guaranteed amount
- $907,500 (75% of the approval)
- Lender
- United Midwest Savings Bank National Association, De Graff, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 1, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $16,839 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 16, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 238220, Plumbing, Heating, and Air-Conditioning Contractors
- Project location
- Jefferson County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 42% of acquisition loans in Plumbing, Heating, and Air-Conditioning Contractors on this site.
- Average acquisition loan in Plumbing, Heating, and Air-Conditioning Contractors: $1,758,508.
- Average acquisition loan in Alabama: $1,764,717.
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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