JABAK Industries LLC
JABAK Industries LLC is a carpet and upholstery cleaning services business located in Melbourne, Florida. The company was financed with an SBA 7(a) loan for a change of ownership of $1.666 million, approved on February 15, 2024 by Valley National Bank.
SBA 7(a) loan, change of ownership, approved Feb 15, 2024
$1,666,000 approvedLender: Valley National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,666,000
- SBA-guaranteed amount
- $1,249,500 (75% of the approval)
- Lender
- Valley National Bank, Passaic, NJ
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 15, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $22,480 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 23, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 561740, Carpet and Upholstery Cleaning Services
- Project location
- Brevard County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-08
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 80% of acquisition loans in Carpet and Upholstery Cleaning Services on this site.
- Average acquisition loan in Carpet and Upholstery Cleaning Services: $1,284,287.
- Average acquisition loan in Florida: $1,808,559.
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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