JMJ Impex LLC
JMJ Impex LLC is a clothing and clothing accessories merchant wholesaler in New York, NY, classified under NAICS code 424350. The company was financed with an SBA 7(a) loan for a change of ownership, approved for $940,000 by The Huntington National Bank on May 21, 2024, with a 120-month term and 5 jobs reported.
SBA 7(a) loan, change of ownership, approved May 21, 2024
$940,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $940,000
- SBA-guaranteed amount
- $705,000 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 21, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,816 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 6, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 5
- Business type
- Corporation
- NAICS
- 424350, Clothing and Clothing Accessories Merchant Wholesalers
- Project location
- New York County, NY
- SBA district office
- New York District Office
- Congressional district
- NY-10
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Clothing and Clothing Accessories Merchant Wholesalers: $1,960,667.
- Average acquisition loan in New York: $1,771,512.
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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