Johnson City Secure Storage
Johnson City Secure Storage is located in Johnson City, TN, and the SBA lists its industry as Lessors of Miniwarehouses and Self-Storage Units. It was approved for an SBA 7(a) loan of $999,000 for a change of ownership on October 2, 2024.
SBA 7(a) loan, change of ownership, approved Oct 2, 2024
- Gross approval
- $999,000
- SBA-guaranteed amount
- $749,250 (75% of the approval)
- Lender
- Bank Five Nine, Oconomowoc, WI
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- October 2, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $8,384 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 19, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 531130, Lessors of Miniwarehouses and Self-Storage Units
- Project location
- Washington County, TN
- SBA district office
- Tennessee District Office
- Congressional district
- TN-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 35% of acquisition loans in Lessors of Miniwarehouses and Self-Storage Units on this site.
- Average acquisition loan in Lessors of Miniwarehouses and Self-Storage Units: $1,454,898.
- Average acquisition loan in Tennessee: $1,738,925.
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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Same industry in Tennessee
- Storaway LLC, Ten Mile
- Storaway LLC, Caryville