Johnson Poultry Farm LLC
Johnson Poultry Farm LLC is located in Morton, MS, and the SBA lists its industry as Broilers and Other Meat Type Chicken Production. It was approved for an SBA 7(a) loan of $1,387,000 for a change of ownership on November 7, 2023.
SBA 7(a) loan, change of ownership, approved Nov 7, 2023
- Gross approval
- $1,387,000
- SBA-guaranteed amount
- $1,040,250 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, variable
- Term
- 18 years (216 months)
- Estimated maturity
- November 7, 2041 (estimated, approval date plus term)
- Estimated monthly payment
- $12,559 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Nov 22, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 112320, Broilers and Other Meat Type Chicken Production
- Project location
- Scott County, MS
- SBA district office
- Mississippi District Office
- Congressional district
- MS-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 47% of acquisition loans in Broilers and Other Meat Type Chicken Production on this site.
- Average acquisition loan in Broilers and Other Meat Type Chicken Production: $1,906,719.
- Average acquisition loan in Mississippi: $1,688,600.
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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