Jordan Stones LLC
Jordan Stones LLC is a furniture retail business in Grand Rapids, Michigan, classified under the furniture retailers industry. The company was financed with an SBA 7(a) loan for a change of ownership totaling $1.64 million, approved on July 1, 2024, through The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Jul 1, 2024
$1,640,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,640,000
- SBA-guaranteed amount
- $1,230,000 (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
- 11%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 1, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $22,591 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 18, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 449110, Furniture Retailers
- Project location
- Kent County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 55% of acquisition loans in Furniture Retailers on this site.
- Average acquisition loan in Furniture Retailers: $1,875,127.
- Average acquisition loan in Michigan: $1,645,728.
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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