Jms Berkshire Resources, Inc.
JMS Berkshire Resources, Inc. is a business in Neptune, New Jersey, in the medical, dental, and hospital equipment and supplies merchant wholesalers industry (NAICS 423450). It was financed with an SBA 7(a) loan for a change of ownership totaling $1,682,500, approved on January 9, 2024, by Bank of America, National Association.
SBA 7(a) loan, change of ownership, approved Jan 9, 2024
$1,682,500 approvedLender: Bank of America, National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,682,500
- SBA-guaranteed amount
- $1,261,875 (75% of the approval)
- Lender
- Bank of America, National Association, Charlotte, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.471%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- January 9, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $19,946 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 8, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 1
- Business type
- Corporation
- NAICS
- 423450, Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
- Project location
- Monmouth County, NJ
- SBA district office
- New Jersey District Office
- Congressional district
- NJ-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 50% of acquisition loans in Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers on this site.
- Average acquisition loan in Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers: $1,918,150.
- Average acquisition loan in New Jersey: $1,626,307.
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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